The yield on the 10-year Treasury note briefly rose above its 2007 peak to trade at 5.34% on Thursday. Earlier this week, the rate on 30-year US bonds also hit a 24-year high.
Government debt has been flailing around the world as elevated oil prices - tied to the war in the Middle East - ripple through the global economy, pushing investors to bet central banks will further raise interest rates. Massive government borrowing and strong investment in artificial-intelligence infrastructure is adding to the demand for capital, pushing up borrowing costs.
Bonds Corner Powered By US Treasury yield hits the Highest Since 2002 at 5.34%
The yield on the 10-year Treasury note has surged past its 2007 high, now sitting at 5.34%. At the same time, 30-year US bonds have hit a 24-year peak this week. The rise in global sovereign debt is primarily driven by escalating oil prices amid the ongoing Middle Eastern conflict. Investors are now bracing for potentially further interest rate hikes from central banks.
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