Real yields, as reflected by rates on Treasury inflation-protected securities, continued to be near the highest levels of the past 14 to 15 years on Thursday. As of 11:40 a.m. Eastern time, the 5-year TIPS rate was at 2.434% versus Wednesday’s closing level of 2.476%, or near the highest level since mid-November 2008, according to Tradeweb. The 10-year TIPS rate was at 2.253% versus 2.279% on Wednesday, still close to the highest since January 2009. And the 30-year TIPS rate was at 2.345% versus 2.362% on Wednesday, remaining near the highest level since March 2009. The moves come as traders adjust to a higher-for-longer theme on rates that pushed the 30-year Treasury yield further into its highest level since 2011 over much of the day.
