U.S. Treasury yields hit their highest level in more than two decades on Thursday as a global bond sell-off deepened.

The 10-year Treasury yield breached a level last seen in April 2002, rising 4 basis points to 5.3338%, according to LSEG data. The figure is key to rates for mortgage borrowing, auto loans and credit card debt.

The yield on the 30-year Treasury bond jumped 3 basis points to 5.6702%, its highest level since July 2002. The 2-year yield was 2 basis points higher at 4.91%.

Yields and prices move inversely. One basis point equals 0.01%.