The U.S. 10‑year Treasury yield has risen to 5.349%, breaking a global financial record. It is the highest level since 2002 and has moved both long‑term and short‑term rates. Even the 30‑year Treasury expanded to 5.661% and reached as high as 5.703%, the greatest in recent markets.
At the same time, uncertainty over European policy and a weak euro have pushed the dollar higher, while the Korean won has remained relatively strong. The won fell to 1,341.10 per U.S. dollar from earlier levels, and export‑related trade balance surged, supporting the exchange rate. In particular, exports in September hit a record high of $120.9 billion, while imports rose to $49.85 billion.
The bond market was pressured by the dollar’s strength and rising Treasury yields, but the likelihood of further U.S. tightening is low, limiting volatility. October bond prices moved from $4,141.288 to $4,165, returning around the $4,140 level. This is a result of higher borrowing costs dampening the investment appeal of bonds.
Future markets will focus on the September FOMC minutes. Depending on how the Fed judges further tightening, U.S. 10‑year Treasury yields could move up or down from the 5.3% range. This can decide the direction of dollar‑won rates and the $4,140 level.