U.S. 30-year Treasury yields break above 5.6%, reaching the highest level since 2002
One of the biggest pressures in the market right now isn’t actually stocks—it’s bonds.
The yield on U.S. 30-year government Treasuries has climbed to above 5.61%, rising for the sixth consecutive trading day and hitting the highest level since 2002.
The yield on the 10-year Treasury also once moved close to around 5.29%, near an extreme level in about two decades.
Behind it all is the same issue: after inflation starts to pick up again, the market begins to worry that interest rates need to stay at elevated levels for longer—or even that further rate hikes are coming.
So tonight’s PCE data will be crucial.
If inflation continues to come in hotter than expected, there’s a chance Treasury yields could keep pushing higher; if the PCE cools, this round of bond selling may first ease off.
$NVDAB $SNDKB $BTC
One of the biggest pressures in the market right now isn’t actually stocks—it’s bonds.
The yield on U.S. 30-year government Treasuries has climbed to above 5.61%, rising for the sixth consecutive trading day and hitting the highest level since 2002.
The yield on the 10-year Treasury also once moved close to around 5.29%, near an extreme level in about two decades.
Behind it all is the same issue: after inflation starts to pick up again, the market begins to worry that interest rates need to stay at elevated levels for longer—or even that further rate hikes are coming.
So tonight’s PCE data will be crucial.
If inflation continues to come in hotter than expected, there’s a chance Treasury yields could keep pushing higher; if the PCE cools, this round of bond selling may first ease off.
$NVDAB $SNDKB $BTC
