US Treasuries: Yields hit multi-year highs – Deutsche Bank
The Deutsche Bank Early Morning Reid details a sharp rise in US Treasury yields, with the 10-year reaching its highest level since 2007 and the 30-year touching levels last seen in 2004. The move is driven by strong data and increased odds of a Federal Reserve hike in October.
Deutsche Bank reports that US Treasury yields have surged to multi-year highs. The 10-year yield has reached its peak since 2007, while the 30-year yield has hit levels not seen since 2004. This upward trend is attributed to robust economic data and the likelihood of a Federal Reserve interest rate increase in October. Bund yields also climbed to post-2009 peaks, indicating global rate pressure.
Although there was a brief pullback on Friday, the probability of a Fed hike in October surged from 53% to 64% within a week. Consequently, the 10-year Treasury yield increased by 16.6 basis points (+3.7 basis points from Friday) to 5.16%, marking its highest level since 2007. The 30-year yield also saw a significant rise of 16.5 basis points (+1.5 basis points from Friday) to 5.49%, setting its highest point since 2004 and the largest weekly gain since May.
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