The real risk-free yield on the 30-year US Treasury bond approached 3%, a level not observed since the 2008-09 financial crisis, according to Finnhub.

A real yield near 3% on the 30-year bond signals a tightening of financial conditions that can affect long-duration asset valuations, mortgage rates, and the attractiveness of risk assets relative to sovereign debt. The level was last recorded during the 2008-09 financial crisis.