10-Year Treasury Yield Hits 5.11%, Highest Since 2007, As Nasdaq Slides

The Nasdaq slid Thursday as Treasury yields surged, with the 10-year yield climbing to 5.11%, its highest level since 2007, according to TheStreet.

The 2-year Treasury yield rose to 4.897%, its highest since 2023, while the 30-year yield increased more than 3 basis points to a post-2004 peak of 5.438%.

"There is an important nuance behind the rise in yields," said Daniela Hathorn, senior market analyst at Capital.com, noting that while the move might appear tied to inflation fears from the Middle East energy shock, market-based long-term inflation expectations have remained relatively contained.

Hathorn said the increase reflects investors demanding higher inflation-adjusted returns rather than pricing in runaway inflation, adding that recent PMI data suggests the economy "is not merely avoiding recession" but appears to be accelerating.