US 10-Year Treasury Yield Hits a 24-Year High as Pressure Builds at the Long End
📈 The US 10-year Treasury yield touched 5.3493% during the October 5 session, its highest level since 2002, before easing back toward 5.31% by the close. The 30-year yield also approached 5.70%.
📊 Notably, long-term yields continued to rise even as September payrolls increased by just 29,000 and expectations for a Fed rate hike later in October fell sharply. This suggests markets are increasingly separating near-term policy expectations from longer-term inflation and fiscal risks.
🔥 The ISM Services Index came in at 54.9, while its prices-paid component climbed to 74.0, the highest since July 2022, keeping pressure on the long end of the yield curve.
💹 Meanwhile, the Nasdaq still closed near record highs, indicating equities are so far absorbing higher yields. The 5.35% area on the 10-year yield is becoming an important level to watch.
#USMarkets $DCR
📈 The US 10-year Treasury yield touched 5.3493% during the October 5 session, its highest level since 2002, before easing back toward 5.31% by the close. The 30-year yield also approached 5.70%.
📊 Notably, long-term yields continued to rise even as September payrolls increased by just 29,000 and expectations for a Fed rate hike later in October fell sharply. This suggests markets are increasingly separating near-term policy expectations from longer-term inflation and fiscal risks.
🔥 The ISM Services Index came in at 54.9, while its prices-paid component climbed to 74.0, the highest since July 2022, keeping pressure on the long end of the yield curve.
💹 Meanwhile, the Nasdaq still closed near record highs, indicating equities are so far absorbing higher yields. The 5.35% area on the 10-year yield is becoming an important level to watch.
#USMarkets $DCR