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US 10-year hits highest since 2007 as yields surge
The 30-year yield rose to 5.49%, its highest since 2004, as strong data lifted expectations for a Fed move in October.
Yields on US Treasuries jumped to multi-year highs, with the 10-year note reaching its highest level since 2007 and the 30-year touching levels last seen in 2004, according to FXStreet insights citing Deutsche Bank commentary.
The rise was attributed to strong economic data and increased odds of a Federal Reserve rate hike in October, pushing Treasury yields higher alongside a climb in Bund yields to post-2009 highs.
FXStreet reported that the 30-year yield gained 16.5 basis points to 5.49%, while noting the move also reflected the largest weekly increase since May for the long end.