The 5-year real yield rose to nearly 2% last week, topping the September 2022 high of 1.92% to hit the highest since late 2008, according to data tracked by TradingView. At 1.6%, the 10-year yield is just 11 basis points short of probing levels last seen in 2009. Meanwhile, the two-year real yield has reached 3%, the highest in at least ten years.