US 10Y Yield Hits 5.3%, 30Y 5.6%: Credit Stress Emerging

US Treasury yields surged to multi-decade highs, with the 10-year exceeding 5.3% and the 30-year passing 5.6%, levels not seen since 2002. The steepening yield curve is beginning to inflict damage on real-economy sectors, raising concerns about a potential credit crisis. The development signals sustained market stress and heightened risk of financial instability.