Bond Rout Deepens as 10-Year Yields Top 4.8%

Treasury yields pushed higher again, taking benchmark 10-year notes to the highest levels since the autumn of 2023, as the global bond market rout continues to unsettle investor sentiment.

Benchmark 10-year note yields touched 4.81% in early Wednesday dealing, marking a near 40 basis point rise over the past two months and trading at the highest levels since November of 2023.

Longer-dated 30-year bonds, meanwhile, changed hands at 5.292%, a level higher than when Treasury Secretary Scott Bessent introduced a new bond buying plan on Aug. 18 in an attempt to tame yields and restore order in the $31 trillion Treasury market.