Treasury selloff pushes 10-year yield to nearly 20-year high as oil extends gains; U.S. stocks slide again
AI Market Summary
A renewed U.S. Treasury selloff pushed the 10Y yield above 5% to the highest level since 2007, reinforcing expectations for additional Fed tightening (FedWatch ~92% hike probability). Rising real rates tightened financial conditions and pressured U.S. equities, with broad declines across major indices. Announced Treasury buybacks and potential use of TGA support have not slowed the yield climb, keeping duration risk elevated.
Impact level
● High
Affected assets
NCSISP5002USD/USDT-0.39%
AI Insight · NCSISP5002USD/USDTAI Insight
▼ Bearish
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The U.S. Treasury selloff rolled on Tuesday, sending the 10-year yield to an intraday peak of 5.041%—its highest level since 2007—before it finished at 5.006%. Rate-hike expectations stayed elevated ahead of the Federal Reserve's policy decision, with the CME FedWatch tool showing a 92.3% probability of an increase.
Equities remained under pressure. The S&P 500 fell 0.45%, the Dow Jones Industrial Average dropped 0.63%, and the Nasdaq slid 0.78%.
Yields continued to climb despite Treasury Secretary Bessent's announcement last week of a $6 billion buyback of long-dated Treasuries. The Treasury Department may also tap cash from the Treasury General Account (TGA) to support the repurchase effort.
