The 30-year Treasury yield is the highest since June 2007

The 30-year Treasury constant-maturity yield closed at 5.31% on August 17, 2026. The last close at or above that level was June 12, 2007, at 5.35%; nothing in the nineteen years between reached it, including the October 2023 peak. The 2-year sits at 4.19% and the 10-year at 4.72%, so the 30-year now yields 112 basis points more than the 2-year: the repricing is concentrated at the long end.

The chart starts in 1990 to keep the recent move legible; the series itself begins in 1977 and peaked at 15.21% in October 1981, so 5.31% is a two-decade high rather than a record. Treasury paused 30-year issuance from February 2002 to February 2006, and the plotted line carries the Treasury’s extrapolated constant-maturity yield through that gap. A yield level says nothing about where it goes next: the March 2020 low of 0.99% marks how far the same series moved the other way in a decade.