Treasury auctions 5% long bond for first time since 2007

Investors secured 5% yields on 30-year Treasury bonds for the first time since 2007, amid rising energy prices and inflation. A $25B auction awarded bonds at 5.046%, slightly above pre-auction levels, indicating middling demand. The increase in yields reflects bidders' need for higher fixed rates due to inflation risks, exacerbated by the Middle East conflict. The last 30-year bond with a 5% rate was sold in 2007, and since then, rates have not exceeded 4.75%. Recent sales of shorter-term Treasuries also showed weaker demand.