The yield on the 30-year U.S. Treasury bond surged to its highest level in more than two decades this week, with multiple outlets reporting an intraday mark of 5.49% on Thursday, the highest since 2004. Bloomberg reported the 30-year yield topped 5.5% following what it described as a 'vacuum' after a sentiment gauge reading.
The Hill reported the 30-year yield fell back somewhat later Thursday morning after touching its two-decade high, closing at 4.63 percent the day before the reported rise, according to The Hill. Axios reported the 30-year yield rose as high as 5.44% Thursday morning and noted the 10-year Treasury yield stood at 5.13%.
According to Axios, the bond selloff began accelerating Wednesday following a stronger-than-expected economic report for September, with the 10-year Treasury yield jumping roughly 0.15 percentage point that day — the largest one-day gain since April 2025, a move Axios linked to tariff policy announced by President Trump.
The Hill reported that the rise in the 30-year yield occurred throughout the period of the Iran war. Separately, according to CNBC, FedWatch's Ben Emons said it is highly probable the 10-year Treasury yield will reach 6% by January. The Wall Street Journal reported that Treasury bond yields resumed their upward march to end the week.
How each side covered it
Left
- Bloomberg reported the 30-year yield topped 5.5%, attributing the surge to a 'vacuum' following a weak sentiment gauge reading.
“US 30-Year Yield Tops 5.5% in ‘Vacuum’ After Sentiment Gauge” — Bloomberg
Center
- The Hill and Axios reported the 30-year Treasury yield hit its highest intraday level since 2004, reaching around 5.44%-5.49% before easing slightly.
- Axios traced the selloff's acceleration to a strong economic report released Wednesday, noting the 10-year yield's biggest jump since April 2025.
- Semafor placed the move in a global context, noting Japan's 10-year bond yields also hit a three-decade high alongside rising US Treasury yields.
- CNBC cited FedWatch's Ben Emons predicting it is highly probable the 10-year Treasury yield will reach 6% by January.
“30-year bond yield now highest in 20+ years” — The Hill
Questions readers ask
What happened to Treasury yields this week?
The 30-year U.S. Treasury bond yield surged to its highest intraday level since 2004, touching 5.49% on Thursday before falling back slightly, according to The Hill. Bloomberg reported the yield topped 5.5%, while Axios and The Wall Street Journal reported yields continuing to climb through the week.
Why are Treasury yields rising?
According to Axios, the bond selloff accelerated after a stronger-than-expected economic report in September, and the 10-year Treasury yield jumped about 0.15 percentage point on Wednesday, its biggest one-day gain since April 2025, which Axios tied to tariff policy under President Trump.
Could yields go even higher?
According to CNBC, FedWatch's Ben Emons said it is highly probable the 10-year Treasury yield will reach 6% by January, though this is a single forecast reported by only one outlet.
What did different outlets focus on in covering this story?
Center outlets emphasized specific yield figures, the economic data behind the selloff, and forecasts for further increases, while the one left-leaning outlet covering the story focused on the yield surpassing 5.5% amid unusual market conditions. No right-leaning outlets provided coverage.
Is this a developing story?
Yes, yields were reported moving within the same day (rising then falling back on Thursday, per The Hill), and analysts cited by CNBC are forecasting further increases, indicating the situation remains in flux.
Sources · 6 outlet reports
- BloombergLeft-leaningTreasury Volatility Eyes Biggest Jump in Year as Bonds Churn
- AxiosCenterWhy Treasury yields are ripping higher
- CNBCCenterHistory shows financial calamities occur when rates rise rapidly like this: 'Something always breaks'
- SemaforCenterUS Treasury yields hit highest level since 2007
- The HillCenter30-year bond yield now highest in 20+ years
- The Wall Street JournalCenterTreasury Bond Yields Resume Their March Higher to End the Week