The yield on the 10-year Treasury note reached 5.230% on Friday, briefly surpassing Thursday’s intraday high of 5.225% before retracting to 5.211% as of 11:30 am.

The Friday intraday high represents the peak yield level since June 15, 2007, when it attained 5.247%.

Yields have experienced an upward trajectory recently, influenced by persistently elevated energy prices stemming from the conflict in Iran, robust economic indicators highlighted by a stronger-than-anticipated purchasing managers’ report, and short-term interest rate increases implemented by the Federal Reserve.