The long-dated benchmark is up 450 basis points from its 2020 low, underscoring how sharply the so-called risk-free rate has repriced.
The U.S. 30-year Treasury yield rose to 5.27%, its highest level since June 2007. The move leaves the long-term benchmark 450 basis points above its 2020 low, highlighting a sharp repricing in the so-called risk-free rate, a core reference point for borrowing costs and asset valuations across global markets.