Treasury yields rose on Thursday, with the 10-year rate pushing closer to the key 5% level as investors awaited remarks from Federal Reserve Chairman Jerome Powell.
The yield on the 10-year Treasury jumped 6 basis points to 4.96%.
It had touched as high as 4.98% earlier in the session, trading at levels last seen in 2007 after first crossing the 4.9% mark on Wednesday.
The 2-year Treasury yield was last 2 basis points higher at 5.23%, hovering at levels last seen in 2006.
A New York Fed calculation indicates that the term premium is around its highest level since May 2021.
Persons:
Jerome Powell, Ian Lyngen, Benjamin Jeffery
Organizations:
Federal, Treasury, BMO, Fed, New
Locations:
New York