Treasuries Slump Ignites Global Selloff as Rate Hikes Gain Focus
- U.S. 10-year yield rises above 2.75% for first time since 2019
- U.K. two-year yield hits 2011 high, German curve steepens
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Long-term U.S. Treasury yields jumped to a three-year high, fueling a global rise in borrowing costs as traders intensified bets on aggressive rate hikes from major central banks.
Ten-year U.S. yields climbed through 2.75% for the first time since March 2019 as investors priced in the impact of the Federal Reserve’s tightening plan and accelerating inflation. Traders are betting the Fed will enact about nine more quarter-point rate hikes by year-end, which would be the fastest policy tightening since 1994.