Treasury Yields Soar as Ballooning U.S. Deficit Worries Wall Street

Treasury debt continued its wild ride on Wednesday, with yields soaring amid concerns about the U.S. government’s unsustainable deficit spending. 

The yield on the 30-year Treasury bond surged as high as 5.1%, its highest level since November 2023, on Wednesday after a surprisingly weak 20-year Treasury note auction. The 10-year Treasury yield, which influences interest rates on all kinds of consumer and commercial loans, climbed to about 4.61%, its highest level since February.