Global Bond Rout Pushes U.S. 10-Year Treasury Yields Near 5% Amid Rate Hike Bets and Oil Surge

A global bond market rout on Friday, September 11, 2026, drove U.S. 10-year Treasury yields to nearly 5%, reaching an intraday high of 4.979%, the highest level since late 2023. The 30-year yield also surged past 5.3650%, approaching levels last seen during the 2007 financial crisis. This market movement is largely attributed to surging oil prices, which are now above $100 a barrel, and heightened expectations of an imminent U.S. interest rate hike following recent inflation data. Attempts by the U.S. Treasury to stabilize the bond market through a 30-year bond auction and a long-dated bond buyback on September 10 were met with a lukewarm response.