The 10‑year Treasury yield spiked to 5.21% – the highest since 2007 – up 20 basis points in two sessions, while the 30‑year yield edged toward 5.5%.
The Treasury sold $4.1 bn of bonds in a buy‑back, below the $6 bn ceiling, targeting 20‑ and 30‑year maturities.
Oil prices hovered around $106 a barrel for Brent and $95 for WTI; geopolitical tensions and U.S.-Iran talks keep the market jittery.
JPMorgan analysts warn yields could climb further as inflation, fiscal borrowing and tightening risks loom, citing a global average yield near 4%.
The 30‑year fixed mortgage rate surged to 7.45%, up from 5.99% earlier in the year, tightening borrowing costs for homeowners.
With bond yields heading higher and the Fed’s policy stance unclear, traders should monitor the next Treasury auction and the earnings cycle for clues.