The yield on 30-year US government debt hovered around 5% after breaching the key level for the first time since July at the start of the week — suggesting pressure in the world’s biggest bond market isn’t letting up.

It’s a threshold that carries special importance, and traders are watching for signs it could shift higher. The yield was at 5.01% as of 6:42 a.m. after hitting 5.03% on Monday.