US 10-Year Treasury Yield Surges to Highest Since Early 2025 Amid Global Bond Sell-off; Japan's 10-Year Hits 3%

A global sell-off in sovereign debt has intensified, pushing the benchmark 10-year US Treasury yield to 4.80%, its highest level since early 2025. Concurrently, Japan's 10-year Treasury yield rose to 3.04% today, after reaching 3% for the first time in 30 years yesterday, driven by escalating inflation concerns and expectations of further central bank rate hikes.