Mechanisms are provided for debugging application code using a content addressable memory. The mechanisms receive an instruction in a hardware unit of a processor of the data processing system, the instruction having a target memory address that the instruction is attempting to access. A content addressable memory (CAM) associated with the hardware unit is searched for an entry in the CAM corresponding to the target memory address. In response to an entry in the CAM corresponding to the target memory address being found, a determination is made as to whether information in the entry identifies the instruction as an instruction of interest. In response to the entry identifying the instruction as an instruction of interest, an exception is generated and sent to one of an exception handler or a debugger application. In this way, debugging of multithreaded applications may be performed in an efficient manner.