US 10-Year Bond Yield Hits 5.3%, Highest in 24 Years

The U.S. 10-year Treasury yield rose to 5.3% on Wednesday, a 24-year high, and briefly touched 5.31% earlier in the session, according to The Zioneer.

The U.S. 10-year Treasury yield reached 5.3% on Wednesday evening, a 24-year high, before pulling back slightly. The yield briefly touched 5.31% during the session, according to The Zioneer. The move extends a steady climb since September, when the yield first breached 5% for the first time since the global financial crisis, as The Zioneer previously reported. The rally in long-term yields reflects persistent market expectations that the Federal Reserve will maintain a 'higher-for-longer' interest rate policy to curb inflation, which stood at 4.2% in May. The rising cost of government debt also comes as the U.S. national debt approaches $40 trillion.

• Developing04:37 · 16 SeptUS 10-Year Yield Breaches 5% for First Time Since Global Financial Crisis
• Developing21:05 · 16 SeptFederal Reserve Raises Interest Rates by 25 Basis Points, Signals Another Hike by Year-End
• Developing07:02 · 10 AugUS national debt nears $40 trillion, adds $450 billion since July 1
• Developing23:09 · 19 AugUS public debt surpasses $40 trillion for the first time, Treasury says

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