30-Year Treasury Yield Hits 5%, Highest Since November ‘23
The yields on long-term government bonds spiked as doubts on a policy misstep by the Federal Reserve were reinforced after strong employment data.
The 10-year yield spiked to 4.783%, while the 30-year yield reached 5%, its highest since Nov. 1, 2023, according to Dow Jones Market Data.
Rising yields are a menace for existing bondholders. It suggests more investors are selling than buying in the market, which drives overall bond prices lower. Yields and bond prices move in opposite directions.