10-year Treasury yield hits highest level since 2002 as global bond rout gathers pace
The benchmark 10-year yield rose to 5.34%, according to LSEG data, as investors braced for higher rates and heavier government borrowing.
- On Thursday, the 10-year Treasury yield hit its highest level in 24 years, rising 4 basis points to 5.3338% as a 'brutal' bond sell-off gathered pace.
- Borrowing costs around the world have surged in recent months as investors express concerns over higher interest rates, government debt loads, and fiscal spending plans.
- The 30-year Treasury bond yield jumped 3 basis points to 5.6702%, its highest level since 2002, while the 10-year yield breached levels last seen in early 2002.
- During the third quarter, the global benchmark posted its biggest quarterly rise this century, reflecting significant shifts in international bond market trends.
- LSEG data shows the yield rose as high as 5.342%, surpassing its 2007 peak and hitting its highest point since early 2002.
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170 Articles
Global bond rout deepens, pushes US Treasury yields to 24-year peak
LONDON/SINGAPORE/NEW YORK — Global bonds came under heavy selling pressure again on Thursday, sending borrowing costs from the United States to France and Japan to multi-decade highs and underscoring mounting concerns for policymakers.
Bond rout pauses after French and UK yields hit decades-long highs
Government bond markets steadied on Friday morning after a sell-off pushed France's 10-year borrowing costs to their highest since 2002, lifted UK 30-year yields above 6% for the first time since 1998 and drove the benchmark US 10-year yield to a 24-year high.
Ten factors pay back government bonds to climb, notably inflation, Iran ' s war, debt accumulation, lending to artificial intelligence companies, declining savings surpluses and changing buyers, increasing the cost of finance and pressing debt markets.
As inflation caused by the war in Iran coincides with increased investment in AI, the yield on U.S. 10-year Treasuries reached 5.34%, the highest level since 2002. Consequently, government bond yields in major countries such as the UK and France have also risen in tandem, causing an economic shock characterized by increased global financing costs and a heavier interest burden on governments and households.
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