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The U.S. 30-year Treasury yield reached an intraday high of 5.35% on the 11th, setting a record. This is the highest level since June 2007, according to Bloomberg, which reported that it hit 5.35% on the 10th, breaking the previous record.
Additionally, the benchmark 10-year yield also surpassed 4.9%, the highest level since October 2023. Experts are suggesting that the 10-year yield could potentially break the 5% mark. This rise in yields is linked to the Federal Reserve's interest rate hike probability soaring to 71.8%.
Markets expect that the consumer price index (CPI) inflation rate for August, to be released on the 11th, will significantly influence the Fed's interest rate decisions. Meanwhile, the three major indices of the New York Stock Exchange have been declining for four consecutive days due to rising international oil prices and surging U.S. Treasury yields.