US Treasury yields climb across the curve, 10-year hits 5.23%
Benchmark yields have risen almost 65 basis points since the end of August
Published · Updated
Chart: US10Y, US 10-year Treasury yield, daily closes since Aug
UpdateMonday, September 28, 2026 at 4:25 PM ET
The later filing puts the 10-year yield's rise at 7 basis points on the day, not the 10 basis points first reported, though both put the yield at 5.23%.
Gold dropped 3.9% on the day to $4,118.66, and the dollar gained as markets increased bets on an October Fed rate hike.
US Treasury yields are rising across the curve. The 2-year yield is up 8.5 basis points on the day, and the 10-year yield is up 10 basis points, touching 5.23%, its highest level since 2007. The 30-year yield stands at 5.47%.
Since the end of August, benchmark yields have climbed almost 65 basis points. Money markets are now pricing three interest-rate hikes over the next year.
Cleveland Fed President Loretta Hammack has said underlying inflation is likely running above target, and that the biggest risk is an inflationary mindset taking hold. She has also said Fed policy is not restraining activity outside the housing market. Fed policymaker Jeffrey Schmid has called the level of US government debt "extreme."
The move extends a selloff that has already pushed the 10-year yield to 5.23% and the 30-year yield to 5.47%. It fits the pattern of recent weeks, with Fed officials warning on sticky inflation and markets pricing further rate increases, rather than pointing to any new trigger. For bondholders, it reinforces an already bearish backdrop rather than changing its direction.