The yield on the US 10-year Treasury note climbed above the 5% mark during intraday trading on September 14, reaching a level not seen since October 2023. This significant move in the bond market reflects growing investor concerns and shifting economic expectations.

Data from the trading session revealed that the benchmark 10-year yield pushed higher during the morning hours, breaking through the 5% barrier to reach an intraday peak of 5.017%. This represented an increase of 4.3 basis points compared to the previous day's closing level, before the yield retreated back below the psychologically important 5% threshold.

Other maturities also experienced notable upward movements during the early trading session. The 2-year Treasury yield climbed to as high as 4.688%, marking a gain of 6 basis points, while the 30-year long bond yield reached 5.388%, up 3 basis points from the prior close.

Market analysts attribute the sustained upward pressure on long-term Treasury yields to a combination of factors. Rising geopolitical tensions in the Middle East have driven oil prices higher, intensifying worries about the trajectory of US inflation. This inflation concern, coupled with the continuously expanding size of US government debt, has created a perfect storm that continues to push long-term yields upward in the current market environment.