Global Bond Rout Hits 20-Year Highs as Central Banks Tighten Amid Trade Turmoil

US 30-year Treasury yields surged to 5.44% intraday Thursday, their highest level since 2004, while the 10-year yield climbed to 5.13% — a 19-year high. The selloff accelerated after a 15.2 basis point jump in 10-year yields, the biggest single-day move since the "Liberation Day" tariff chaos of April 2025.

Behind the Data

The bond rout stems from a toxic cocktail: oil prices back above $105 per barrel, surging PMI data suggesting US economic...