The US 30-year yield just reached a new high at 5.133% making another new high going back to 2007 in the process. Moreover the 2 – 30 year spread moved closer to unchanged. UPDATE: it just went into positive territory at +0.2 basis points.
On May 1, it reached positive territory at 0.8 basis points. On March 20, it reached as positive as +4.8 basis points.
The 10-year yield touched 5% today shortly after 5 PM yesterday but is currently below that level at 4.98%.. The 2 – 10 year spread is now at -15.2 basis points. That is the least negative since July 13, 2022. The difference is the 10 year yield and two-year yield at the time were trading near 3%.
Stock futures are employing a lower opening with the Dow industrial average down -115 points. The S&P index is down -17.5 points and the NASDAQ index is down -68 points.