US 30-year Treasury yield hits highest since 2004 amid bond selloff

The yield on the US 30-year Treasury bond has reached its highest level since 2004, driven by a wave of selling in the bond market. This move reflects growing concerns over inflation, heavy government borrowing, and fiscal-debt issues. The 30-year yield has been reported around 5.3% to 5.37%, indicating a significant decline in bond prices as yields have surged. The increase in yields is expected to influence financial conditions by raising mortgage rates, corporate borrowing costs, and federal interest expenses. In the context of the cryptocurrency markets, this rise in bond yields appears to exert downward pressure on risk assets, including Ethereum. As traditional finance conditions tighten, market participants may view this as consistent with scenarios where Ethereum’s price remains under pressure. The Ethereum price prediction market for September 24 shows varying levels of confidence in Ethereum’s ability to surpass certain price thresholds, with significant changes in implied probabilities over the past week. Key Takeaways The surge in the US 30-year Treasury yield suggests heightened concerns about inflation and fiscal policy, leading to increased borrowing costs. Market pr...