10-year U.S. Treasury yield hits highest level since November 2023 as global bond sell-off continues
Inflation fears and heavy debt supply are pushing borrowing costs higher, with U.S. government debt sales and tech borrowing adding pressure.
- On Wednesday, the bond sell-off deepened, pushing the 10-year Treasury yield to 4.81%, its highest level since January 2025.
- Renewed Middle East tensions and a $2 trillion federal budget deficit are pressuring yields, while tech giants Microsoft and Amazon have issued $220 billion in debt this year.
- Higher yields threaten to cap stock valuations, as Matt Stucky, chief portfolio manager at Northwestern Mutual Wealth Management, warned a "sharp backup in rates" could "severely punish the forward multiple in the market."
- European Union inflation jumped to 3.3% in August, prompting expectations of European Central Bank rate hikes next week, while 10-year bonds globally are paying 5.14%, the highest in more than 15 years.
- Investors are warily watching the 10-year yield approach 5%, which Ameriprise strategist Anthony Saglimbene described as a "psychological level" that could trigger de-risking, while some bond buyers play a "waiting game" for higher yields.
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U.S. Treasury yields have surged to their highest level in three years. This is due to renewed inflationary concerns as international oil prices jump following the military conflict between the U.S. and Iran. Coupled with the burden of the U.S. fiscal deficit, the sell-off of Treasury bonds is spreading beyond the U.S. to other major economies. According to the Wall Street Journal (WSJ) on the 2nd (local time), the yield on 10-year U.S. Treasuri…
(New York = Yonhap News) Correspondent Lim Su-sung = Interest rates on 10-year US Treasury bonds reached 4.8% on the 2nd (local time), breaking the high since November 2023.
10-year Treasury yield hits highest level since late 2023 as oil price lifts US Fed rate-hike bets
The US 10-year Treasury yield rose to 4.81%, its highest since November 2023, due to rising crude oil prices and inflation risks. Concurrently, US-Iran tensions escalated as military strikes occurred after the US attacked Iranian sites, prompting threats of larger responses from President Trump.
The Globe & Mail
The Star Kuala LumpurBond selloff deepens as oil prices and public debt fears jolt markets
10-year Treasury yield hits highest since 2023
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