US 30-Year Treasury Yield Hits Highest Since 2004 as Global Bond Selloff Deepens

The synchronized jump in US and Japanese long-end yields is the real signal here: this is not a single-country repricing but a global term-premium story, with Japan's move notable given how long its yields stayed pinned down. A Fed official keeping another hike on the table reinforces that policy expectations, not just supply, are driving the move. For crypto and RWA markets, the relevant channel is the discount rate on long-duration, yield-bearing assets, and the Oracle data-center force majeure adds an operational wrinkle to the AI-infrastructure trade that has been absorbing capital. Whether long-end yields keep climbing without a broader risk-off break is the open question.