Treasury yields soar to almost 5% on inflation fears
The increase in Treasury yields triggered a sell-off of Asian and Australian bonds.
Treasury yields have surged to near 5%, the highest level in nearly two decades, due to mounting inflation fears triggered by the Iran War and US trade policies. This sell-off in global bonds has led to a decline in Asian and Australian bonds, suggesting that the Treasury Secretary's efforts to stabilize the market have been ineffective.
The Financial Times has pointed out that these moves have raised concerns about the US acting like a borrower in distress. Traders are anticipating that inflation rates will stay elevated for an extended period, causing global political instability.
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