30-Year U.S. Treasury Yield Hits Highest Level Since 2004

By The Financial District

1 day ago

1 min read

The 30-year US Treasury yield has risen to its highest level since 2004 as stocks fell, raising questions about whether volatility in bond yields could prompt a larger pullback in equities, Ines Ferré reported for Yahoo Finance.

**The US Treasury Department in Washington, D.C. Long-term Treasury yields climbed to multi-year highs amid renewed inflation concerns.**

The 10-year Treasury yield, a benchmark for mortgage rates and loans, hovered near its 2007 highs, while the 30-year Treasury yield stood at about 5.4% Thursday morning.

Stock futures also fell. The move came as oil prices climbed toward $100 a barrel after President Donald Trump signaled support for a US diesel export ban.

Stronger-than-expected business activity data also fueled concerns about persistent inflation.

The US dollar had risen to an eight-week high, contributing to weaker market sentiment.

"The run-up in the dollar, I think, is associated with negative risk sentiment. And so, I think that's affecting equities as well," Steve Englander, co-head of FX research at Standard Chartered, told Yahoo Finance.

Hawkish remarks from Federal Reserve officials also increased expectations that interest rates could rise again. Investors raised their bets on another Fed rate hike in October to 64%, according to the report.