US 30-Year Bond Yield Jumps to 5.724%, Highest in 24 Years, Ahead of Auction

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US Treasury yields climbed today, with the 30-year bond yield, which often responds to geopolitical risk, hitting 5.724%, its highest in 24 years. The 10-year yield, the main benchmark for mortgages, auto loans and credit card debt, rose to 5.350%, its highest since 2002, while the 2-year yield, which tends to track the Fed's policy rate decisions, stood at 4.818%. The US Treasury is due to auction 39 billion dollars of 10-year notes today, the second of three auctions this week, after auctioning 58 billion dollars of 3-year notes yesterday, and is scheduled to auction 22 billion dollars of 30-year bonds on Thursday. Investors are also watching the minutes of the Fed's latest monetary policy meeting in September, which marked the first rate hike since 2023, to gauge policymakers' views on the economy.

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2-year yield stood at 4.818%, tracking Fed policy-rate expectations ahead of the September meeting minutes.