US 30-year Treasury yield logs its longest run above 5% since 2007, as sustained fiscal pressures threaten to reprice global debt issuance costs

The yield on the US 30-year Treasury bond (the interest rate the US government pays to borrow for 30 years, which acts as a global benchmark for long-term debt pricing) has now remained above 5% for 11 consecutive trading sessions, its longest such stretch since 2007. The yield climbed a further 1.6 basis points (a basis point is one hundredth of a percentage point) to 5.146% on Wednesday, according to Dow Jones Market Data cited in Bloomberg reporting corroborated by MarketWatch. The move reflects a renewed July selloff in the $30 trillion Treasury market, driven by a combination of fiscal concerns, stubborn inflation expectations, and elevated supply. A separate data point from Goldman Sachs strategist Amanda Lynam, reported by Yahoo Finance, estimates that $489 billion of AI-related debt has already been issued in 2026, exceeding Goldman's full-year 2025 estimate of $322 billion with five months still remaining, as technology companies aggressively tap bond markets to fund AI infrastructure spending. For London debt capital markets practitioners, elevated US long-end yields matter directly: they set the floor for sterling and euro corporate bond pricing, raise the cost of refinancing for leveraged borrowers, and compress the spread at which investment-grade issuers can access markets. Sustained pressure at these levels would weigh on IPO valuations and delay planned equity issuances by making the relative cost of debt more visible to equity investors. UK gilt yields, already elevated following recent fiscal announcements, face additional upward pressure if the US long end remains anchored above 5%.