US Treasury Yield Breaks 5%, Sending Gold into Temporary Decline

The US Treasury yield has broken above the key 5% threshold for the first time in nearly two decades, causing a sharp sell-off in gold and stocks.

The 10-year bond yield rose by 3.13% in a single day, ending at a near 20-year high of 5.11%. This is the largest single-day spike this year.

The increase can be attributed to the ongoing war with Iran, which has led to rising oil prices and subsequently affected every market, asset class, and commodity.

Since the beginning of March, when the conflict began and 10-year bonds were at 3.92%, yields have risen an astonishing 30%.