Prof G Markets · Thursday, September 24, 2026
The bond market is showing signs of distress as the 10-year Treasury yield surpassed 5.1%, reaching a 19-year high, and the 30-year yield returned to levels not seen since 2004. Even the 5-year yield breached 5%, its highest point since before the financial crisis. These increases occurred despite the Treasury's recent attempts to lower yields through a $6 billion buyback program, with a second operation planned.
“The bond market continues to flash red. Yesterday, the 10-year Treasury yield ripped above 5.1% to a fresh 19-year high. The 30-year yield returns to levels not seen since 2004, and even the 5-year yield breached 5%, the highest since before the financial crisis.”
“That was despite the Treasury's attempts to bring yields down with a historic buyback program weeks ago. Treasury Secretary Scott Bessent bought $6 billion worth of long-dated bonds and still yields went up.”