Economy / Markets
Bond selloff deepens as oil tops $91 a barrel and Japan's 10-year yield hits 3% for the first time in a generation
Global bond yields pushed to multi-year highs on Tuesday as Brent crude rose above $91 a barrel in Asia trade and the US 10-year Treasury yield hit 4.78%, its highest since early 2025, while Japan's 10-year benchmark touched 3% for the first time in a generation. Investors are also pricing in an interest-rate increase from New Zealand on Wednesday, a hike in Europe next week, and better-than-even odds of a US move this month, with US jobs data on Friday the next major test.