Global Bond Sell-Off Drives US 30-Year Treasury Yield to Highest Since 2002

Long-term sovereign yields have surged across major economies as a global bond sell-off resumed. The benchmark 30-year US Treasury yield reached 5.72%, returning to levels not seen since 2002, with higher real yields accounting for roughly 95% of the latest 100-basis-point sell-off. Resilient economic data, heavy public debt burdens, and Brent crude topping $102 a barrel dampened easing expectations, pushing US 30-year mortgage rates to 7.49%. European yields also climbed sharply, with French 10-year yields touching 4.91% and UK 10-year gilts reaching 5.48%, pressuring global equity markets.