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10-year Treasury yield hits highest level since 2002 as global bond rout gathers pace
The 10-year Treasury yield reached its highest point since 2002, reflecting a growing global bond sell-off, which has significant implications for the currency markets. Rising yields typically strengthen the USD as they attract foreign investment, creating upward pressure on the dollar. The current environment suggests heightened sensitivity to upcoming economic data, particularly labor statistics, which may further influence yield trajectories. This bond rout is underpinned by expectations of prolonged monetary tightening, impacting liquidity and risk appetite across asset classes.