U.S. Treasury yields were off their highs Monday afternoon but remained elevated after Moody’s downgraded the U.S.’s credit rating. Rates hit key levels that have pressured financial markets recently.
The 30-year Treasury yield hit a high around 5.03%, reaching levels not seen since November 2023. The yield last traded at 4.921%, up 2 basis points. The 10-year yield also climbed 2 basis points to reach 4.459%. Meanwhile, the 2-year Treasury yield shed 1 basis point to 3.972%.
One basis point is equivalent to 0.01%, and yields and prices move in opposite directions.
Concerns about tariffs and the U.S. debt burden are raising questions about whether Treasurys are still a safe-haven asset for global investors.
“Concerns about the 100 foot gash in the container ship below the waterline are raising questions about future seaworthiness of the vessel, the Captain went on record at press time assuring investors profits won’t be impacted and Wallstreet for some reason temporarily has begun pretending very loudly that most container ships have 100 foot holes in them.”
