TREE NEWS reports: The 10-year US Treasury yield broke above 5.34% intraday on Oct 1, its highest since 2002, while the 30-year hit 5.623% on Oct 2 — the steepest quarterly rise in 32 years. The selloff spread globally, with UK 30-year gilts touching 6% and France’s 10-year spread over Germany at 146.68bp. Bitcoin rose about 33% in Q3 even as yields climbed 72bp.
10-Year US Treasury Yield Tops 5.34%, Highest Since 2002
The notable part is that the long end, not the front end, is driving this: a 30-year above 5.6% and the steepest quarterly rise in decades point to term-premium and fiscal-supply concerns rather than a repricing of policy rates. That distinction matters for duration-heavy holders across sovereigns, credit and real assets, and for the UK and French spreads, which show this is not a US-only story. The open question is whether bitcoin's Q3 strength alongside rising yields signals a genuine diversification bid or simply coincided with one.
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