US Treasury Yields Surge to Multi-Decade Highs Amid Global Bond Sell-Off

• US 30-year Treasury yield hit 5.6702%, highest since 2002.
• 10-year Treasury yield reached 5.3338%, highest since 2002.
• Global bond sell-off driven by inflation, debt, and rate hike fears.

US Treasury yields climbed to multi-decade highs as a global bond sell-off intensified. The 30-year Treasury yield reached its highest level since 2002, touching 5.6702%, while the benchmark 10-year yield surpassed levels last seen in April 2002, hitting 5.3338%. This surge is attributed to persistent inflation concerns, substantial government borrowing, strong economic growth, and elevated interest rate expectations. The global rout also saw UK 30-year bond yields exceed 6% for the first time since 1998, marking a 28-year high for UK long-term borrowing costs, fueled by fears over the US deficit and the potential for central banks to further raise rates.