The yield on the US 30-year Treasury bond rises to 5.44%, reaching its highest level since 2004.

On Thursday, after a sharp rise in Brent crude oil prices, the 30-year U.S. Treasury yield once rose by 4 basis points to 5.44%, marking the highest level since 2004. Earlier this week, yields had already surged, causing yields across all maturities to hover near their highest levels since 2007. Columbia Threadneedle portfolio manager Ed Al-Hussainy said, "It's hard to find stronger adjectives to describe the movement in 30-year Treasury yields. Investors are now thinking: 'If we're going to lock in funds for 30 years, we need a higher return as compensation.'" With economic growth, elevated energy prices, inflationary pressures, and an expanding scale of government borrowing, investors are demanding higher returns to hold long-term bonds, further increasing the pressure on long-term Treasurys. The continued rise in 30-year Treasury yields has also weakened the U.S. Treasury's efforts to reduce long-term financing costs. As bond selling pressure intensified, U.S. Treasury Secretary Yellen expanded the government bond repurchase program in mid-August in an attempt to ease market pressure, but so far this measure has not had a lasting impact on the market.