Global Bond Selloff Intensifies as US 10-Year Treasury Yield Hits Highest Level Since 2002

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US Treasury yields climbed to their highest levels in more than two decades on Thursday as a global bond selloff deepened further.

Data from the London Stock Exchange Group (LSEG) showed the 10-year US Treasury yield rising 4 basis points to 5.3338%, breaking through levels last seen in April 2002. This yield serves as a key benchmark for interest rates on mortgages, auto loans, and credit card debt.

The 30-year US Treasury yield moved up 3 basis points to 5.6702%, marking its highest point since July 2002. The 2-year US Treasury yield gained 2 basis points to reach 4.91%.

Note: Yields and bond prices move in opposite directions, and 1 basis point equals 0.01%.

Interactive chart description: Trends in 10-year and 30-year US Treasury yields, with the X-axis covering the period from January 1, 1980, to June 30, 2026, and the Y-axis ranging from 0 to 20.

On Thursday, government borrowing costs came under broad pressure across the globe. Germany's 10-year government bond yield, the benchmark for the eurozone, rose 4 basis points to 3.6179%, its highest level since 2008.

In other European markets, the French 10-year government bond yield jumped 11 basis points to 4.9501%, the Italian 10-year government bond yield climbed 10 basis points to 4.7171%, and the UK 10-year government bond yield rose 5 basis points to 5.483%.

In recent months, borrowing costs across major economies have surged substantially. Investor concerns over the high interest rate environment, the scale of government debt, and fiscal spending plans have been the primary drivers pushing yields higher.

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