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Economy — Federal Reserve

Long-Term US Treasury Yields Surge To More Than Two-Decade High

The $32 trillion Treasury market has declined 2.6% this year, compared with a 6.3% gain last year.

,   and  TIPP Staff
2 min read
US 30-year treasury yield rises to highest level since 2002. Pic via(@business)

The U.S. 30-year Treasury yield climbed above 5.61% on Tuesday, reaching its highest level since 2002, before easing to 5.466%. The 10-year Treasury yield also declined slightly to 5.2278% after rising the previous session.

Energy price pressures linked to the ongoing U.S.-Iran conflict have contributed to expectations of further Federal Reserve interest-rate increases. Markets were pricing in more than a 72% probability of an October rate hike, according to the supplied report.

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The Treasury market is also facing increased competition for investor capital. Paramount Skydance launched a $52 billion debt package to support its proposed acquisition of Warner Bros. Discovery, adding to borrowing activity.

The $32 trillion Treasury market has declined 2.6% this year, compared with a 6.3% gain last year.

State Street Investment Management strategist Masahiko Loo said October could present another test for Treasuries as bond issuance increases and competition for capital intensifies.

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