US 30Y Treasury yield hits 5.53%, highest since June 2004, with mortgage rates expected above 7.50%.
Macro & Markets ·
The US 30-year Treasury yield climbed to 5.53%, marking its highest point since June 2004, amid sharp declines across the bond market. The move represented a 25 basis point increase over a three-day span. Mortgage rates were expected to rise above 7.50% as yields continued to climb.
The sharp upward movement in longer-duration yields reflects broader pressure in fixed-income markets as bond prices fall. A 24-year high in the 30-year rate signals potential macroeconomic headwinds for risk assets more broadly, as higher borrowing costs ripple through the financial system and economy.
The near-term trajectory of both yields and mortgage rates—and whether current levels represent a peak or the start of further increases—remains uncertain. Broader market drivers behind the selloff, including inflation expectations, Federal Reserve policy expectations, and demand dynamics, are not fully detailed in available reports.