10-year Treasury yield hits highest level since 2002 as global bond rout gathers pace
The benchmark 10-year yield rose 87 basis points in the third quarter as investors sold bonds on inflation and debt concerns, Reuters and LSEG data showed.
- 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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US Treasury Secretary Scott Bessent said the rise in government bond yields is part of a global trend, not a phenomenon unique to the United States, and is therefore not a cause for concern. Meanwhile, the yield on the benchmark 10-year US Treasury note briefly jumped to its highest level since 2002 this week, Bloomberg reported.
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.
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