30‑year Treasury Yield Hits 5.1% as Fed Chair Starts
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- 30‑year Treasury bond yield jumped more than 10 basis points to 5.114%, the highest level since May 22 2025 and near its October 2023 peak.
- 10‑year Treasury note yield rose over 11 basis points to 4.575%, the main benchmark for U.S. borrowing.
- 2‑year Treasury note yield climbed more than 8 basis points to 4.075%, reflecting short‑term rate expectations.
- Kevin Warsh, newly confirmed Fed Chair, faces a complex inflation picture as CPI hit 3.8% (highest since May 2023) and producer prices reached 6% annual (the highest since late‑2022).
- U.S. government posted a $215 billion April budget surplus (17% below the same month in 2025) while interest costs on the debt hit $97 billion, the second‑largest expense after Social Security.
Why it matters: Investors see higher yields eroding bond prices, while the Treasury faces steeper borrowing costs; the $215 bn surplus eases cash flow but the $97 bn interest bill tightens the federal budget.
