Bond rout intensifies as inflation fears grip markets

Global government bond yields surged to multi‑decade highs as inflation worries persist and markets price in more rate hikes, with central banks from the U.S. to Japan and Europe seen tightening. Yields jumped across major benchmarks—Germany’s 10-year at 3.375%, Japan’s at 3.016%, the U.S. 10‑year above 4.8%, and UK gilts near 5.25%—while equities slipped in a broad risk‑off mood, amid oil-price pressures from Middle East tensions and concerns over high debt levels.