Global Bond Yields Hit Highest Level Since 2008 as Fed Decision Looms

Average yields on the Bloomberg Global Treasury Index climbed to 3.68%, the highest level since the 2008 global financial crisis. The selloff lands days before rate decisions from the Federal Reserve, Bank of Japan, and Bank of England.

The index tracks government debt from investment-grade countries. It is heading for its biggest monthly drop since March, challenging hopes that the worst of this year’s bond rout has passed.

Global Bond Yields Surge Across Every Major Market US 30-year Treasury yields trade just below their highest level since 2007. UK gilts have logged their longest streak of daily closes above 5% in almost two decades, according to Bloomberg.

Global Bond Yields / Source: X Germany’s 10-year yield has reached its highest point since 2011. Meanwhile, Japan’s 40-year yield moved above 4%, and its five-year yield hit a record since the maturity launched in 2000.