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Global bonds fall amid rising yields
Government borrowing costs have risen to their highest levels since 2008, as the yield on the 10-year U.S. Treasury bonds surpassed 5%. This comes amid fears of escalating sovereign debt due to rising interest rates and oil prices climbing above $100 per barrel. The increase is attributed to global factors and central banks' policies of raising interest rates to combat inflation, which has led to a wave of bond sell-offs and higher borrowing costs for governments and corporations. The current yield levels are a concern for sovereign debtors, especially as debt-to-GDP ratios continue to rise in several countries, and market uncertainty increases due to the lack of future guidance from the new Federal Reserve chair.
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