30-year Treasury yield touches 5.33%, highest since 2002, on inflation and spending concerns
The 30-year U.S. Treasury yield pushed to 5.33% on Tuesday, its highest level since 2002, as markets weighed continued inflation concerns and unease over federal spending. The yield was trading around 5.322% on the…
Key takeaways
- The 30-year U.S. Treasury yield rose to 5.33% on Tuesday, its highest level since 2002.
- The yield was trading around 5.322% on the session, up more than one basis point on the day.
- Inflation pressure and concern over the trajectory of federal spending were cited as the two catalysts for the move.
- The 5.33% mark had not been reached in roughly 19 years.
The 30-year U.S. Treasury yield pushed to 5.33% on Tuesday, its highest level since 2002, as markets weighed continued inflation concerns and unease over federal spending. The yield was trading around 5.322% on the session, up more than one basis point on the day.
The 5.33% level is now in focus for the long end. Two catalysts were cited for Tuesday's move: inflation pressure and concern over the trajectory of federal spending. The yield sat just below the session high for much of the day, hovering at a mark not visited in roughly 19 years.
The last time the 30-year traded near these levels was 2002. Tuesday's one-basis-point advance brought it back to the edge of that threshold, and the session print near 5.322% left the long bond hovering just below.