10-year Treasury yield hits highest level since 2002 as global bond rout gathers pace
Rising inflation, heavy government borrowing and expectations of more Federal Reserve tightening pushed long-term borrowing costs higher worldwide.
- 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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136 Articles
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.
The ten-year bond yield in the United States has risen to its highest level since 2002. Bond yields are rising not only in the US but all over the world. "Due to rising interest rates, insurers and pension funds are forced to sell their government bonds, causing rates to rise even further. It is a downward spiral," says Jochem Visser, BNR's financial markets editor.
COSTS of borrowing in the USA and Europe have reached multi-year records, which, due to inflation and expensive oil, threatens to increase the price of loans for citizens.
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