30-Year Treasury Yields Hit Highest Since 2004 as Brent Nears $107 a Barrel
The 10-year yield climbed to 5.17% and Brent settled above $106 as bond market volatility rattled stocks
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Chart: US30Y, US 30-year Treasury yield, daily closes since Dec 2023
UpdateThursday, September 24, 2026 at 5:35 PM ET
The published piece said the moves would not materially change the near-term policy outlook; the later filing says they run against recent Fed messaging about a mid-cycle adjustment and point to a higher-for-longer rate regime.
The 30-year Treasury yield touched 5.47% Thursday, its highest level since 2004. The 10-year yield rose six basis points to 5.17%, after reaching an intraday high of 5.1685%. The climb in long-dated yields has been building over several sessions, reflecting strong domestic economic activity, persistent inflation concerns and a weak Treasury auction.
Bond markets pushed the 30-year Treasury yield to its highest level since 2004 on Thursday, while the 10-year yield rose to 5.17%.
Stocks wobbled as the combination of rising yields and firmer oil prices fed concerns that inflation is proving more persistent than hoped. The dollar climbed 0.42% to 158.96 against the yen, touching a nine-week high of 158.98.
The move follows the Federal Reserve's first rate increase since 2023, announced last week. Fed Chair Powell has said the central bank may need to raise rates again to curb inflation. New York Fed President Williams has said expectations of real rates are a big part of what has been pushing bond yields higher.
The latest levels in oil and long-term yields largely confirm the inflation pressure that has already driven the Fed's recent hikes, rather than signalling a new shift in policy. Markets are already pricing in three more rate increases over the next year, and Fed officials have acknowledged the risk publicly. That means Thursday's moves do not materially change the near-term outlook, though they keep the case for further tightening intact.