The return on the 10 year US Treasury note climbed 4.45 basis points to 5.207% on Thursday as long term rates rose across the curve. The 30 year Treasury yield peaked at 5.525% during the session, marking the highest reading since 2004 and crossing the 5.5% mark for the first time in over two decades.

This 22 year high in the longest dated government security coincides with an uninterrupted upward trajectory in the bond market. Some traders have compared the current momentum of these yields to the price action of AI equities, noting terms of a persistent climb regardless of external pressures.