U.S. Treasury yields climb as 30-year rate hits highest since 2004

Sep 23, 2026 18:25 (30d ago)

The 30-year U.S. Treasury yield rose four basis points to 5.44% on September 24, its highest level since 2004, while the 10-year yield exceeded 5.1% and five-year yields remained above 5%.
Stronger U.S. growth, a September flash composite PMI of 58.4, persistent inflation, Brent crude near $105 a barrel and heavy Treasury issuance pressured bonds, risk assets and consumer borrowing costs.
Ghalibaf highlighted the 10-year yield in a post linking it to 1970s rates; gold, U.S. stocks and the S&P/TSX Composite Index weakened, while Kinross cut its 2026 and 2027 production outlooks.

U.S. Treasury yields rose sharply on September 24, with the 30-year yield reaching 5.44%, its highest level since 2004, and the 10-year yield topping 5.1%. Stronger-than-expected U.S. activity, persistent inflation, higher Brent crude prices, large fiscal deficits, heavy government issuance and corporate borrowing for artificial-intelligence infrastructure pressured long-term debt. Iranian Parliament Speaker Ghalibaf commented on the 10-year move, with reports quoting his post as either "Happy 5.1% 10Y America 🎉. Mashallah." or "Happy 5.1% 10Y America, we’ll return you to 1970s rates." Higher Treasury yields increased borrowing costs and weighed on gold, equities and mining shares, while Kinross cut its 2026 and 2027 production outlooks.