US Treasury yields rise during Asian session, 10-year climbs to 4.979%

U.S. Treasury yields rose during the Asian trading session, extending Thursday’s gains, with yields across all maturities reaching multi-year highs. According to Tradeweb data, the 2-year U.S. Treasury yield reached 4.596%, its highest since July 2024; the 10-year yield climbed to 4.979%, the highest since October 2023; and the 30-year yield hit 5.384%, the highest since 2007. Danske Bank stated that the 10-year yield is now just a few basis points away from the 5.00% mark, “due to U.S. Treasury repurchase operations falling short of expectations.”