US 10-year Treasury yield hits 5% as global bond sell-off deepens

Global bond markets are under pressure as rising energy prices revive inflation concerns. The US 10-year Treasury yield briefly touched 5.011% on Monday, its highest since October 2023, before retreating. European yields also rose, with Germany's 10-year Bund at a 15-year high. Oil prices climbed to over $109 per barrel due to attacks on Saudi infrastructure. The European Central Bank raised rates, and markets expect the US Federal Reserve to hike this week. The US Treasury has been buying back bonds to lower yields, but investors remain cautious.