US 10-year yield holds near 5.17% after selloff

The 10-year US Treasury yield held at 5.17% on Friday, near its highest level since June 2007 after global government bonds sold off into a second week. The 30-year Treasury yield was flat at 5.463%, after reaching levels not seen since 2004, while the 2-year yield held at 4.899%.

Data showed the move followed a climb on Thursday, when the 10-year yield rose more than 10 basis points to as high as 5.223%. The 30-year yield touched 5.501% on Thursday, its highest level since June 2004.

Treasury curve holds near highs

The pressure was not confined to the US market. Data showed Japanese government bonds, UK gilts, German bunds and other eurozone debt all reached fresh yield highs this week, before eurozone and Japanese yields edged lower on Friday.

The long end remains the market’s main stress point. Higher 10-year and 30-year yields raise the discount rate used across equities, credit and real estate, while also lifting borrowing benchmarks for governments and companies.

If the 10-year yield stays near 5.17%, the global macro effect would run through tighter financial conditions, the Treasury market would keep pressure on duration-heavy portfolios, and other sovereign bond markets would face a higher US benchmark. If yields instead retreat below Thursday’s 5.223% intraday high, the immediate relief would come through lower term-premium pressure rather than a change in the underlying fiscal or inflation debate.

The next dated marker is the US cash-market close on September 25, 2026, when traders will see whether the 10-year yield holds below Thursday’s 5.223% intraday high.