10-year Treasury yield rises to fresh 2002 high to start the week

Live updates

1. 1h ago

   10-Year Treasury Yield Climbs to Fresh 2002 High

   The 10-year U.S. Treasury yield climbed to its highest level since 2002, reaching 5.34% and briefly topping 5.36%, driven by persistent inflation and fiscal concerns. The bond market slump pushed long-end yields to fresh 24-year highs, causing gold prices to sink to a two-month low of $4,102.55. Meanwhile, stock traders are fiercely debating when the prolonged selloff in bonds will start to inflict pain on a resilient U.S. stock market that remains supported by technology stocks and artificial intelligence trades.

   Why it matters

   The spike in long-end yields reflects deep-seated concerns regarding government spending and inflationary pressures impacting global bond markets. While major stock indexes like the S&P 500 reached record highs on the back of tech gains and falling oil prices, assets outside the artificial intelligence trade face mounting pressure from the bond sell-off. Market participants are monitoring these fixed-income movements as a broader collection of shocks spreads across international financial realms.

   What is confirmed

   • The 10-year U.S. Treasury yield rose as high as 5.34% and briefly topped 5.36%, marking its highest level since 2002.
   • Gold fell 1.48% to $4,102.55, sinking to a two-month low amid 24-year-high yields and a stronger dollar index.
   • Stock traders are fiercely debating when the bond selloff will begin to trigger pain for the broader U.S. stock market.

   Still unconfirmed

   • Traders are looking ahead to potential policy discussions and Washington responses if U.S. bond yields continue to rise.

   What to watch next

   • The release of the minutes from the Federal Reserve's last meeting.
   • Upcoming U.S. jobs report data releases.
   • Further market reactions to rising long-end Treasury yields outside of the technology sector.
   Sources used for this update (12)

   1. CNN — Bond market bust: The 10-year Treasury yield hit its highest level since 2002
   2. www.zerohedge.com — Futures Rise, Yields and Oil Drop Ahead Of Key Jobs Report | ZeroHedge
   3. finance.yahoo.com — Rising Yields Are Wreaking Havoc on Stocks Outside the AI Trade
   4. CNBC — Treasury yields rise to start the week; traders look ahead to Fed minutes
   5. Reuters — What will Washington do next if US bond yields keep rising?
   6. www.cnbc.com — 10-year Treasury yield rises to fresh 2002 high to start the week
   7. Bloomberg.com — Treasuries Slump Pushes Long-End Yields to Fresh 24-Year Highs
   8. WSJ — U.S., European Bond Yields Rise
   9. Yahoo Finance — Global bond sell-off spreads as yields rise amid 'collection of shocks'
   10. www.nbcnews.com — S&P 500 closes at record high as Nvidia nears $6 trillion ...
   11. www.tradingnews.com — Gold ($4,102) Sinks to a 2-Month Low on 24-Year-High Yields and a 102.45 Dollar — Sell Rallies to $4,190, Buy Zone at $3,920
   12. finance.biggo.com — U.S. 10-Year Treasury Yield Briefly Tops 5.36%, Highest in 24-1/2 Years on Inflation and Fiscal Concerns
   confidence 95%