U.S. 10-Year Treasury Yield Climbs to 5.23%, Highest Since 2007
The benchmark yield was 5.04% on Sept. 23, while the 30-year yield reached 5.4583%, its highest level in 22 years.
The U.S. 10-year Treasury yield rose to 5.23% on Sept. 25, extending a climb that has pushed the benchmark rate to its highest level since 2007 and increased pressure on risk assets, including crypto.
The yield stood at 5.04% on Sept. 23, putting the increase at 19 basis points in two days. The move followed a rise in the long end of the Treasury curve, with the 30-year yield reaching 5.4583%, its highest level in 22 years.
The sequence points to continued selling pressure in longer-dated Treasurys, with the 30-year maturity reaching its highest level in 22 years before the 10-year benchmark. A yield above 5% raises the return available from a comparatively low-risk asset and increases the hurdle for riskier markets.
For crypto markets, the 10-year Treasury yield serves as a key benchmark for discount rates. The latest move places Bitcoin (BTC) and other risk assets against a higher government-bond yield as investors assess inflation, fiscal deficits and debt sustainability.
