US 10-year and 30-year Treasury bond yields reached 24-year highs during Wednesday morning trading as the market sell-off continued. The 10-year yield topped 5.36%, while the 30-year yield exceeded 5.73%. Both yields eased by lunchtime but remained about 4 basis points above Tuesday's closing levels. The Federal Reserve will release minutes later today from last month's meeting, which raised the federal funds rate to between 3.75% and 4%. Bankrate data puts the average 30-year mortgage rate at 7.52% as of Wednesday, its highest level since November 2023.