Global Bond Selloff Deepens With Longer Debt Leading Losses

Global bonds are facing renewed selling pressure as jitters around inflation, debt sales and fiscal discipline erode sentiment toward what had previously been some of the world’s safest assets.

Treasury yields advanced on Wednesday, with those on benchmark 30-year debt approaching within a whisker of the closely watched 5% level. Yields on UK 30-year bonds increased to 5.75%, already the highest since 1998, while Japan’s 20-year notes climbed to the highest this century.