Bond Markets Crash Again: US Treasury Yields Hit 2002-Level Highs
Global bond markets face record yields as inflation and debt concerns surge. US 10-year Treasury hits 5.34%.
POLICY WIRE — LONDON, United Kingdom — Global bond markets have experienced another sharp decline, with government borrowing costs reaching multi-decade highs across major economies, including the United States, Germany, and Japan. The situation has sparked widespread concern over rising inflation, interest rates, and growing national debt burdens.
The 10-year U.S. Treasury yield, a key indicator of global financial conditions, climbed to 5.34% on Thursday, marking its highest level since 2002. This surge reflects heightened anxiety about inflationary pressures and the potential for further rate hikes by central banks. The yield also saw its largest quarterly increase this century in the third quarter, jumping nearly 90 basis points.
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Other major economies are also seeing similar trends. French 10-year bond yields have reached their highest levels since 2002, while Britain’s 30-year borrowing costs hit 6% for the first time since 1998. Japanese bond yields have also surged to multi-decade peaks. Analysts point to factors such as renewed oil price volatility, driven by tensions between the U.S. and Iran, as well as increased government spending and debt accumulation.
Reporting by Policy-Wire (PW)
