US Treasury yields hit 24-year highs as long-end bonds slump, with 10-year yields reaching 5.34% and 30-year yields at 5.7%.
Macro & Markets ·
Long-end US Treasury yields climbed to their highest levels since 2002, with 10-year yields reaching 5.34% and 30-year yields at 5.7%. Both benchmarks rose by at least 7 basis points in the session, while shorter-dated Treasuries posted more modest gains of 2 to 4 basis points.
The sharp selloff in longer-duration bonds reflects mounting pressure across the fixed-income market. Yields rise when bond prices fall, and the concentrated move in the 10- and 30-year part of the curve suggests renewed concern about inflation expectations and the sustainability of elevated borrowing costs for the US government. The gap between shorter and longer maturities has widened, indicating a shift in how investors are pricing risk and growth over different time horizons.
The drivers behind the acceleration remain partly unclear. Interest rate expectations, fiscal concerns, or shifting demand for duration all could have contributed to the move, but the material does not isolate which factor dominated the session.