US 10-Year Treasury Yield Surges to 5.04%, Highest Since Global Financial Crisis

The yield on the 10-year US Treasury bond climbed to 5.04% in early London trading, marking its highest level since 2007. This surge is attributed to investor concerns over persistent inflation, the impact of the Middle East conflict on energy prices, and expectations of a Federal Reserve interest rate hike. The benchmark yield had previously topped 5% on Monday, and its continued rise reflects a global bond sell-off.