US 10-Year Treasury Yield Hits a 24-Year High as Pressure Builds at the Long End
đ 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%.
đ 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.
đ„ 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.
đč 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
đ 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%.
đ 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.
đ„ 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.
đč 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
