Bond yields rise as oil prices fan inflation fears; stocks slip

Global bond yields rose again and stocks eased on Tuesday as a jump in oil prices fueled concerns about inflation and the potential for interest rate hikes.

Japan's 10-year benchmark yield hit 3% for the first time since 1996, pushing up government borrowing costs, while British and euro zone yields hit over-10-year highs.

U.S. Treasury yields retreated from earlier highs in the wake of U.S. economic data. The yield on 10-year Treasury notes was last up 1.2 basis points at 4.77% after climbing to 4.798%, its highest level since January 14, 2025. Yields move inversely to prices.

"The global bond selloff is putting worldwide central banks on notice," said Jake Dollarhide, chief executive officer of Longbow Asset Management in Tulsa, Oklahoma.

"Potentially it's rate hikes across the board. That's not good for any company including tech," he said. Higher rates increase borrowing costs for businesses as well as consumers.