10-year Treasury yield hit 4.81%, the highest since Oct 2023, as bonds sold off globally. Stocks fell, dollar mixed, EUR/USD slipped to 1.1573, gold near $4,300.
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Global bond yields surged across developed markets, pushing 10-year benchmarks to multi-year highs. The sell-off kept risk assets under pressure and currencies mixed.
The 10-year Treasury yield hit 4.81%, the highest since October 2023. German 10-year yields reached 3.37%, a level last seen in 2011. France's 10-year yield climbed to 4.24%, its highest since 2008. The UK 10-year yield rose to 5.26%, the highest since 2008. Japan's 10-year yield hit 3.02%, a high not reached since 1996.
The dollar gained against most peers. One exception was the yen. USD/JPY fell to 159.45 from an Asian high of 160.40. It last traded at 159.70, down 0.3%. EUR/USD declined 0.2% to 1.1573. NZD/USD dropped 1.2% to 0.5820 after the Reserve Bank of New Zealand raised its policy rate and signalled a more gradual tightening path.
Gold traded around $4,300, holding near that level after falling in the previous session. WTI crude oil fell 0.8% to $89.44, pulling back from an intraday high above $92. The contract still held a weekly gain of around 7%.
European stock indices declined. S&P 500 futures edged down 0.1%, and Nasdaq 100 futures fell 0.2%, extending a three-day losing streak since last Friday.
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