US Treasury yields surge to multiyear highs as inflation worries mount

The 10-year US Treasury yield hit its highest level since 2007 while the 30-year yield reached its highest since 2004, as robust US business surveys and inflation pressures fuel expectations for additional Federal Reserve rate hikes. The bond market rout extends globally, with Japanese 10-year yields climbing to 1996 highs and European yields rising sharply.

The Treasury yield surge reflects market pricing of four Fed rate hikes by June 2027 and signals investor concerns about persistent inflation despite recent Fed actions. Bonds $TLT and equities retreated broadly on the repricing.

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