At the New York close on Monday (October 5), the yield on the benchmark 10-Year U.S. Treasury Note rose by 4.04 basis points to 5.3110%. It traded within a range of 5.2475%-5.3472% during the session, remaining slightly lower for about half of the day and holding steady around the 5.26% level. It oscillated upward since 16:00 Beijing time, approaching the Q2 2002 high of 5.4720% and the Q3 2000 peak of 6.1820% around midday in New York, before giving back some gains since 02:00.
The two-year U.S. Treasury yield rose by 0.42 basis points to 4.8289%, trading within a range of 4.7808%-4.8561% during the session.
The 20-year U.S. Treasury yield increased by 4.03 basis points to 5.7089%, reaching 5.7466% at 01:33 to hit a new high after one trading day; the 30-year U.S. Treasury yield rose by 4.15 basis points to 5.6610%, reaching 5.7017% at 01:29, also nearing the Q2 2002 high of 5.8610% and the Q2 2000 peak of 6.2640%.
The spread between the two-year and 10-year U.S. Treasury yields widened by 3.603 basis points to +47.778 basis points. It reached +49.733 basis points at 01:44, approaching the August 21 peak of +51.897 basis points and the May 20 peak of +55.741 basis points, showing a sharp V-shaped trend since August 18.
The spread between the three-month Treasury bill and the 10-year U.S. Treasury yield rose by 1.527 basis points; the spread between the two-year and 30-year U.S. Treasury yields widened by 4.314 basis points; and the spread between the five-year and 30-year U.S. Treasury yields increased by 3.372 basis points.
The yield on the 10-year Treasury Inflation-Protected Securities (TIPS) rose by 3.43 basis points to 2.9402%, reaching 2.9726% at 01:33 and nearing the Q4 2008 high of 3.1576%; the two-year TIPS yield increased by 1.61 basis points to 2.2719%; and the 30-year TIPS yield rose by 4.47 basis points to 3.3884%, reaching 3.4204% at 01:33, which Bloomberg data indicates is the highest level since records began in the summer of 2004.