US 10-year Treasury yields hit 24-year highs amid bond market rout
US 10-year Treasury yields surged to 5.34% on October 1, 2026, the highest since early 2002, as global bond markets sold off. Elevated oil prices near $100/barrel, strong GDP data, and AI infrastructure demand drove the selloff. UK 30-year yields hit 6% and French yields reached 14-year highs.
TLDR
Higher yields raise borrowing costs for mortgages, governments, and businesses, with US mortgage rates jumping the most in four years and pressuring housing demand. The surge signals potential Federal Reserve rate hikes and threatens equity valuations. It reflects broader macro stress from geopolitical shocks, energy disruptions, and AI capex booms, with implications for inflation, growth, and central bank policy worldwide. Markets showed mixed resilience but face headwinds ahead of key economic data releases.
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