Global Bond Selloff Deepens as Rising Oil Prices Spook Investors

Government bond markets tumbled around the world, sending yields surging from Japan to the US on intensifying fears that the war-driven price shock will force central banks to raise interest rates to contain to the impact.

The rout was led by longer-dated bonds that are the most vulnerable to accelerating inflation. In the US, 10-year yields rose 10 basis points to 4.58%, the highest in a year, capping the biggest weekly jump since President Donald Trump’s tariffs threw markets into a tailspin in April 2025.

Japan’s 30-year yield hit 4% for the first time since the bonds were issued ...