Treasury Yields Reach Multiyear Highs as Bond Selloff Deepens

U.S. Treasury yields climbed to multiyear highs on Thursday, with the 30-year yield reaching roughly 5.42% to 5.50%, its highest level since 2004. The 10-year yield rose above 5%, with reported readings ranging from 5.139% to 5.223%. The variation reflects market snapshots taken at different times during the day, rather than a single agreed peak. The rise came amid a broader bond selloff, as investors weighed persistent inflation concerns, higher oil prices, resilient U.S. economic activity and heavy government borrowing. Those forces have increased expectations that interest rates could remain elevated. Higher Treasury yields can feed into borrowing costs for households, businesses and governments, while also making government bonds more attractive relative to riskier investments. The shift has sharpened attention on the Federal Reserve’s next moves, but no further increase has been decided. CME FedWatch-based market reporting put the probability of an October rate hike at about 70% to 71%. That figure reflects traders’ expectations, which can change with incoming data and market conditions, not a commitment by the central bank.