Global Bond Rout Lifts Long-Dated Yields to Multi-Decade Highs
Global bond markets are selling off as long-dated yields surge across the US, Europe, the UK, and Japan, with US 30-year yields around 5.32% — the highest since 2007 — and France, Germany, and the UK near multi-decade highs. The rise appears driven more by higher real yields than a surge in inflation expectations, amid a flood of long-term corporate debt and a shift away from official buyers to private investors. Governments are issuing more short-term debt to cope with higher financing costs, raising concerns about the durability of ultralow rates for the long run.