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Global bond yields hit multi-decade highs amid debt concerns

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2026-09-28 00:32 UTC → 2026-09-28 19:43 UTC · added ~~removed~~

Global bond markets continue to face intense volatility as yields reach multi-decade highs. In the United States, the 10-year Treasury yield has climbed above 5.1%, while the 30-year yield has surpassed 5.5%. This surge is fueled by persistent inflation, robust economic activity, and mounting concerns regarding the US national debt, which has exceeded $40 trillion. This upward trend is causing a ‘bear steepening’ of the yield curve, where long-term rates rise more rapidly than short-term rates. Market participants are increasingly pricing in potential interest rate hikes by the Federal ~~Reserve, with some estimates suggesting a 70% probability~~ Reserve. Financial institutions have warned of ~~a 0.25 percentage point increase~~ sustained high yields due to structural imbalances between the supply of long-term debt and investor demand. BNP Paribas predicts that 30-year Treasury yields could rise to 5.6% in ~~late October.~~ the coming months, noting that if the Fed implements four rate hikes, interest payment burdens could increase by approximately $168 billion within two years. International markets remain under ~~pressure:~~ pressure, with German 10-year Bund yields ~~have reached~~ at a 17-year high ~~above 3.6%,~~ and Japanese 10-year yields ~~are~~ at their highest levels since 1996. ~~In the United Kingdom, rising borrowing costs continue to impact the government’s fiscal position.~~ The economic consequences are ~~widespread.~~ widespread: US mortgage rates have crossed 7%, ~~increasing the cost of living for households. For the corporate sector, particularly capital-intensive industries such as AI~~ and ~~semiconductor manufacturing,~~ higher rates increase ~~the cost of~~ financing ~~large-scale projects. Additionally, rising yields may pressure equity valuations~~ costs for ~~growth stocks and reduce liquidity~~ capital-intensive industries like AI and ~~risk appetite within~~ semiconductor manufacturing. While crude oil throughput in the ~~cryptocurrency market. Geopolitical~~ Strait of Hormuz has doubled to approximately 13 million barrels per day due to US military escorts—potentially alleviating some energy-driven inflation fears—geopolitical tensions in the Middle East remain a significant underlying risk ~~factor for energy prices, despite US military efforts to maintain oil throughput in the Strait of Hormuz.~~ factor.

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