PGIM has announced that the repricing of the 30-year US Treasury bond yield has begun.

Gregory Peters of PGIM stated that the return of the 30-year US Treasury yield to above 5% is prompting investors to rethink what level is attractive. Peters expects that both US Treasury and 30-year corporate bond yields will increase significantly, and believes that a 5.5% yield is a "pretty decent" level for long-term bonds. The Co-Head of Credit at PGIM expressed in an interview that with the increase in debt issuances related to artificial intelligence and large-scale cloud service providers, as well as the rise in US Treasury debt issuance, "this is just the beginning, not the end," and "you will see pressure on long-term yields." Peters believes that this is only the early stages of the market reevaluating and repricing what is considered attractive for long-term yields.