The 10-year Treasury yield reached about 5.35% intraday on October 7 2026, its highest since 2002, and the 30-year reached about 5.73%, also its highest since 2002, before both eased after a $39B 10-year auction that cleared at 5.3%, the highest 10-year auction yield since 2000. Demand was strong: indirect bidders, including foreign central banks, took 80.3% against a 72.4% average and dealers only 2.5%. Coverage tied the sell-off to persistent inflation, heavy government borrowing, AI-related corporate borrowing and the IMF managing director's warning that governments must bring debt under control.