Global Sovereign Bond Yields Hit Multi-Decade Highs

As of September 29, 2026, sovereign bond yields in major economies have reached levels not seen in decades. The U.S. 30-year Treasury yield rose to 5.59%, its highest since June 2002, while the 10-year and 2-year notes also saw increases. Similar trends were observed globally, with the UK 10-year gilt reaching 5.41% (highest since 1999) and the Japanese 10-year bond hitting 3.09% (highest since 1996). Yields in France, Germany, and Australia also climbed, driven by rising energy costs and expectations of further Federal Reserve interest rate hikes amid the ongoing U.S.-Iran conflict that began on February 28.