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The 10-year Treasury yield hit a peak of 4.982 percent on Thursday, its highest level in nearly three years.
The last time the yield was at this level was on Oct. 26, 2023. Yields have been rising since March after the U.S.–Iran war broke out on Feb. 28.
On March 2, the yield opened at 3.932 and traded at 4.947 as of 5:30 a.m. EDT on Sept. 11, up more than 25 percent. Yields rose on Sept. 9 and 10 following the Treasury Department’s Wednesday announcement that it would buy back $6 billion in government treasuries.
On Aug. 19, the Treasury announced an update to the size of bond buybacks from $2 billion per operation to at least $4 billion, effective Sept. 9. This applies to 10-year treasuries as well. At the time, the department said that the increase in buybacks is aimed at providing “greater liquidity support” to treasuries….
The last time the yield was at this level was on Oct. 26, 2023. Yields have been rising since March after the U.S.–Iran war broke out on Feb. 28.
On March 2, the yield opened at 3.932 and traded at 4.947 as of 5:30 a.m. EDT on Sept. 11, up more than 25 percent. Yields rose on Sept. 9 and 10 following the Treasury Department’s Wednesday announcement that it would buy back $6 billion in government treasuries.
On Aug. 19, the Treasury announced an update to the size of bond buybacks from $2 billion per operation to at least $4 billion, effective Sept. 9. This applies to 10-year treasuries as well. At the time, the department said that the increase in buybacks is aimed at providing “greater liquidity support” to treasuries….
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