Bond yields hit multi-decade highs despite oil pullback
TLT•The 10-year U.S. Treasury yield reached 5.2297%, its highest level since 2007, while Japan’s 10-year yield touched 3.121%, a level not seen since 1996. Oil prices fell about 1%, and global equities rose 0.22%.
1. Yields reach new highs
U.S. Treasury yields set fresh multi-decade highs as traders continued to price in further Federal Reserve rate hikes, despite oil prices falling about 1%. The benchmark 10-year yield rose 5.5 basis points to 5.217% and reached 5.2297%, its highest since 2007; the 30-year yield rose to 5.5252%, its highest since 2004.
2. Global markets respond
Japan’s 10-year bond yield touched 3.121%, its highest level since 1996. The MSCI global equity gauge rose 0.22% and was heading for its best week since early August, while U.S. stocks gained as enthusiasm for AI continued.
