US 10-Year Treasury Yield Rises to 4.69%, 30-Year Yield Reaches 5.23%

The yield on the US 10-year Treasury has risen to 4.69%, while the 30-year Treasury yield has reached 5.23%. This increase follows the announcement by the Treasury to expand its buyback program for government bonds. The 30-year yield is nearing a 19-year high. Treasury Secretary Scott Vessenet mentioned the expansion of the buyback size, stating that the bond yields do not reflect the underlying economic fundamentals. The US national debt has surpassed $40 trillion, and the fiscal deficit is expected to exceed $2 trillion this year. The rise in long-term Treasury yields reflects concerns over the fiscal deficit and inflation pressures, exerting downward pressure on bond prices and upward pressure on yields. The Federal Reserve's policy signals are also a point of interest for the market, with Chairman Kevin Warsh not providing clear guidance on the interest rate path. The increase in long-term rates raises costs for mortgage loans and corporate borrowing, which could also impact Bitcoin and Ethereum. The stability of rates is expected to depend on the future size of Treasury issuances and the Fed's policy signals.