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30-year Treasury yield briefly reaches 19-year high before retreating

Zillow Research links the move to an initial push higher in yields before they fell back after bond buyback announcements, leaving mortgage rates exposed to underlying drivers like deficits and energy and tech-related borrowing pressures.

Reported · Written up by our desk · Government Bonds

Zillow Research said the 30-year Treasury yield briefly climbed to a 19-year high before pulling back following announcements tied to larger bond buybacks.

The outlet added that while Treasuries can move mechanically on buyback timing, the bigger forces pushing yields higher, including the government deficit, an oil shock, and debt pressures tied to AI, were not portrayed as fading.

For mortgage borrowers, Zillow Research highlighted that mortgage pricing can remain sensitive to those fundamental yield drivers even after short-term yield reversals.

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