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30-year Treasury bond yield scales to highest level since 2002
Inflation worries, Fed rate expectations and geopolitical tension pushed the benchmark 10-year yield near 5.3%, traders said.
- On Tuesday, U.S. Treasury yields dipped slightly after surging on Monday, with the 10-year note yield settling at 5.2278% and the 30-year bond yield easing to 5.466%.
- The seven-month US-Iran war continues to weigh on energy prices, fueling expectations of further Federal Reserve rate hikes, with traders pricing in a more than 72% chance of an October increase.
- Paramount Skydance Corp. launched a $52 billion debt package Tuesday for its Warner Bros. Discovery Inc. acquisition, while strategists at Citigroup Inc. describe the current environment as a "light buyer's strike."
- The 30-year rate surpassed 5.61% on Tuesday, a level last seen in 2002, as the $32 trillion Treasuries market has lost 2.6% this year compared with a 6.3% gain last year.
- Masahiko Loo, senior fixed-income strategist at State Street Investment Management, noted the "seasonal test" for Treasuries typically arrives in October as bond supply ramps up and competition for capital intensifies.
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Markets report that the Fed will make another upward adjustment in its reference rate.
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Coverage Details
Total News Sources61
Leaning Left2Leaning Right13Center10Last UpdatedBias Distribution52% Right
Bias Distribution
- 52% of the sources lean Right
52% Right
C 40%
R 52%
Factuality
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