U.S. bond yields reach 20-year highs
U.S. 10-year Treasury bond yields rose to 5.33%, the highest level since April 2002, amid a continued global bond sell-off driven by investor concerns over the lack of political action to address fiscal deficits, amid persistent inflation and rising interest rates. Additionally, 30-year bonds reached their highest level since July 2002 at 5.67%. The rise in borrowing costs was widespread globally, with Japanese bond yields reaching their highest in three decades, along with the 10-year German, Italian, and British bonds, as worries grew over uncontrollable public debt and inflation.
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