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U.S. bond yields hit 20-year high
U.S. 10-year Treasury bond yields rose to 5.33%, the highest level since April 2002, amid an ongoing global bond sell-off driven by investor concerns over inaction to reduce the fiscal deficit, rising inflation, and increasing interest rates. Additionally, 30-year bonds reached their highest level since July 2002 at 5.67%, and yields on 2-year bonds increased to 4.91%. Worldwide, borrowing costs have increased as the financial conditions of Japanese, German, French, Italian, and British debt have worsened due to rising interest rates and declining currency values.
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