Key facts
- US 30-year bond yield hit a fresh 24-year high on Tuesday.
- The 30-year yield briefly touched 5.7041% on Wednesday.
- The 30-year US Treasury bond yield was 5.612% on Tuesday, the highest since June 2002.
- The 10-year Treasury yield was 5.276% and the two-year yield was 4.935% on Tuesday.
- Global bond markets resumed their selloff due to inflation and government debt worries.
- Traders are awaiting a 10-year Treasury auction on Tuesday and a 30-year auction on Thursday.
The US 30-year Treasury bond yield reached a new 24-year intraday high on Tuesday, trading at 5.612%, a level not seen since June 2002. This occurred as global bond markets resumed their selloff, driven by renewed concerns over inflation and government debt loads. The yield briefly touched 5.7041% on Wednesday ahead of the release of the Federal Reserve's September meeting minutes.
Other fixed-income benchmarks remained near recent highs, with the 10-year Treasury yield at 5.276% and the two-year yield at 4.935% on Tuesday. Traders are now anticipating upcoming Treasury auctions, including a 10-year auction on Tuesday and a 30-year auction on Thursday, which will serve as further tests of investor appetite for US debt. Brent crude futures were also up over 1% on the day at around $101.54 a barrel.