Analysis: Long-term US Treasury yields hit nearly three-year high, inflation fears trigger global bond market sell-off

Odaily Planet Daily News As investor concerns over accelerating inflation triggered a sell-off in the global bond market, yields on long-term US Treasuries rose to their highest level in nearly three years.

After US President Trump pressured Iran to reach an agreement to end the war, causing oil prices to extend their gains, the 30-year US Treasury yield briefly rose 4 basis points to 5.16%, the highest level since October 2023. The 10-year and 2-year Treasury yields touched 4.63% and 4.10%, respectively, the highest since February 2025. In Japan, the 30-year Japanese government bond yield surged 20 basis points to 4.2%, its highest level since issuance in 1999.

Bond traders often view the 5% yield level on the 30-year US Treasury as a "line in the sand," believing it would attract bargain-hunting buyers. Guneet Dhingra, head of US interest rate strategy at BNP Paribas, said, "There's no anchor point above 5%." He advised clients to focus on the 30-year US Treasury trading range of 5.25% to 5.5%. (Jin Shi)