The U.S. Treasury auctioned $13 billion in 20-year bonds on Tuesday, with a high yield of 5.420%, up 21.6 basis points from the previous auction and marking a new historical high for this maturity. On the same day, the U.S. 10-year Treasury yield briefly rose to 5.045%, touching its highest point since 2007. U.S. Treasury Secretary Scott Bessent stated in a congressional hearing that rising bond yields are due to "global issues" and "the need to address the deficit."