30-year Treasury bond yield scales to highest level since 2002
The 10-year yield fell to 5.2278% as traders priced in a 72% chance of another Federal Reserve rate hike in October.
- On Tuesday, U.S. Treasury yields dipped slightly after surging on Monday, with the 10-year note yield settling at 5.2278% and the 30-year bond yield easing to 5.466%.
- The seven-month US-Iran war continues to weigh on energy prices, fueling expectations of further Federal Reserve rate hikes, with traders pricing in a more than 72% chance of an October increase.
- Paramount Skydance Corp. launched a $52 billion debt package Tuesday for its Warner Bros. Discovery Inc. acquisition, while strategists at Citigroup Inc. describe the current environment as a "light buyer's strike."
- The 30-year rate surpassed 5.61% on Tuesday, a level last seen in 2002, as the $32 trillion Treasuries market has lost 2.6% this year compared with a 6.3% gain last year.
- Masahiko Loo, senior fixed-income strategist at State Street Investment Management, noted the "seasonal test" for Treasuries typically arrives in October as bond supply ramps up and competition for capital intensifies.
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US 30-year Treasury yield crosses 5.61% to hit highest level since 2002
US Treasury yields climbed again on Tuesday, with the 30-year rate crossing 5.61% for the first time since 2002. Elevated energy prices, heavy corporate debt issuance and concerns over government borrowing are adding to pressure on global bond markets.
US Treasury yields have surged to multi-year highs on inflation fears and expectations of interest rate hikes from the US Federal Reserve. The process is being fueled by high energy prices due to the conflict in the Middle East, which has led to the 30-year bond yield rising to levels not seen since 2002, CNBC reported.
US bonds are coming under new pressure, with the 30-year yield reaching 5.613% intraday, a level not seen since 2002. ... The article US Bonds: 30-year yields at highest since 2002 – Inflation pressure and expectations for a new interest rate hike was published on NewsIT.
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