Treasuries Extend Selloff, Pushing 10-Year Yield to 16-Year High

Long-end led selloff fueled by high rates, rising supply
‘The Fed is no longer your friend,’ says AmeriVet’s Faranello

WATCH: “The higher and steeper rates go, the worse it is for risky assets, particularly when you have this gap between how curves have been moving and how volatility is behaving,” says Ella Hoxha of Newton Investment Management.Source: Bloomberg

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By Michael MacKenzie

September 25, 2023 at 12:35 PM UTC

Updated on

September 25, 2023 at 7:29 PM UTC

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US Treasuries extended their decline, driving 10- and 30-year yields to new multiyear highs, on expectations the Federal Reserve will hold interest rates high and the supply of new bonds will keep rising as the federal government contends with mounting deficits.

The 10-year yield rose as much as 11 basis points Monday to 4.54%, the highest since October 2007. The 30-year rose as much as 13.6 basis points to 4.66%, a level not seen since April 2011.