30-Year Treasury Yield Reaches 5.69%, a 24-Year High

The 30-year U.S. Treasury yield hit 5.69%, a 24-year high, CNN reported Oct. 1. Yield is the annual return the government pays to borrow for 30 years. Because the $29 trillion Treasury market anchors pricing for virtually all financial assets, according to Reuters, a higher long yield can lift mortgages and other borrowing costs.