Global bond selloff pushes 10-year US yield toward 5% on oil, rate-hike fears
Investors are pricing a 70% chance of a Federal Reserve hike next week as oil above $100 revives inflation fears, traders said.
- Treasury yields surged on Thursday, pushing the 10-year note to 4.9% and the 30-year bond above 5.34%, fully reversing earlier declines after Treasury Secretary Scott Bessent's market intervention.
- August producer prices rose 5.4% year-over-year, exceeding expectations, while Brent crude oil surged past $100 per barrel amid intensifying Middle East conflict.
- Traders priced in a 72% probability of a Federal Reserve rate hike at the September 15-16 meeting, up from 49% a week earlier, according to CME FedWatch tool data.
- Rising borrowing costs for mortgages, auto loans, and corporate financing pressured households and businesses, while the 10-year approached the 5% psychological threshold that some fear could trigger broader market stress.
- Strategists warn that sustained energy costs above $100 make 10-year yields above 5% inevitable, as investors demand higher compensation for long-term debt amid persistent fiscal deficit concerns.
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The U.S. 10-year rate has exceeded the 5% mark, a cautionary signal in addition. ...
Global Bond Selloff Spurs 10-Year Treasury Yields Towards 5%
The global bond market is experiencing a significant selloff, driving U.S. 10-year Treasury yields close to 5%. This is due to soaring oil prices and fears of inflation, as well as a potential U.S. rate hike. Rising yields are impacting everything from mortgage rates to government borrowing costs.
Pulse of the Street: oil surge and rate hike fears trigger a market sell-off
Rising crude oil has pushed US-Treasury toward 5%, raising market expectations of a rate hike at the upcoming Fed meeting. Market participants brace for heightened volatility ahead of key policy decisions.
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