Yields on U.S. Treasurys hovered near multi-year highs on Wednesday, as the global bond market experienced a selloff amid concerns over energy prices keeping inflation elevated as well as government debt burdens.
The yield on the benchmark 10-year Treasury note was around 4.8% in the early afternoon on Wednesday, slightly lower than the intraday high of 4.818% – which was the highest level since November 2023.
Sovereign debt yields were elevated in other notable developed countries, with Japan’s 10-year yield above 3% for the first time in 30 years, German 10-year Bund yields at their highest level since 2011, and Britain’s equivalent yield at…
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