Long-term government bond yields have reached levels not seen in over a decade across the United States, United Kingdom, Japan, and Europe. US 10-year Treasury yields climbed to approximately 4.78%, while the 30-year yield surpassed 5.3%, a level not touched since 2007. This broad sell-off was driven by oil prices surging above $90 per barrel amid escalating US-Iran tensions and expectations that the Federal Reserve could raise rates again as early as September. US national debt has exceeded $40 trillion, growing the annual interest bill with every refinancing cycle. The US Treasury responded by announcing it will double its long-term bond buyback operations to at least $4 billion per operation to support a market showing signs of stress.
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