US 30-Year Treasury Yield Tops 5.31%, Highest Since 2007; Treasury Doubles Bond Purchases
Last week, the US 30-year Treasury yield climbed to 5.31%, its highest since 2007, while the 10-year yield exceeded 4.7%. The Treasury announced it would more than double its purchases of government bonds, focusing on the long end of the curve, providing short-term support. On Tuesday, oil price declines helped yields ease, with the 30-year falling 5 basis points to 5.176% and the 10-year slipping 6 basis points to 4.643%. Wednesday saw yields rise 1-2 basis points as volatility persisted.
Last week, the US 30-year Treasury yield climbed to 5.31%, the highest since 2007, while the 10-year yield exceeded 4.7%. Bond prices move inversely to yields, and long-dated bonds are more sensitive to interest rate fluctuations. The US Treasury announced it would more than double the size of its government bond purchases, focusing on the long end of the yield curve, a move that provided short-term support to the fixed-income market.
On Tuesday, as oil prices fell, the 30-year yield declined 5 basis points to 5.176%, and the 10-year yield slipped 6 basis points to 4.643%. On Wednesday, yields ticked up 1-2 basis points, and market volatility persisted.