Global Yields Reach 15-Year Highs As Rate-Hike Worries Build  

• Global government bond yields extended their climb — with the US 30-year reaching the highest point since 2011 and other benchmarks returning to 2008 levels as resilient economic data challenges the view that central bank rates are peaking.
• Both 5-year and 10-year Treasury yields rose Thursday to within a few basis points of their 2022 highs. The 30-year yield advanced as much as seven basis points to 4.42%, putting it well above the less than 4% level it traded at as recently as July 31. The US 10-year yield climbed to as high as 4.33%, up nearly eight basis points. The equivalent UK yield jumped to a 15-year high, while its German counterpart approached the highest since 2011.
• Treasuries have led the global debt selloff as the US economy defies expectations that more than five percentage points of Federal Reserve interest-rate hikes would cause a recession. Officials at the last policy meeting remained concerned that inflation would fail to recede, requiring further tightening, minutes of the meeting released last Wednesday showed.
• The higher yields in the US continue to draw in buyers. Investors pumped $127 billion this year into funds that invest in Treasuries, on pace for a record year, Bank of America Corp. said last week, citing data from EPFR Global.

(Source: Yahoo Finance)