Treasury Yield RiseThe US 30-year Treasury yield hit a fresh 19-year high on Friday, pressuring ETFs that hold long-duration bonds. The yield climbed as high as 5.27%, its highest level since July 2007, extending a breakout above the range that had contained it since 2023. The iShares 20+ Year Treasury Bond ETF (TLT), the largest fund focused on long-term Treasuries with about $42 billion in assets, is now down 3.8% for the year. Three officials dissented in favor of a hike, and market-based indicators now point to the possibility of one as soon as the September meeting. And the 30-year matters less for the real economy than the 10-year, which sets the tone for mortgage rates.