Global Bond Yields Hit 3.68% Highest Since 2008 as Fed Prepares Rate Decision

According to Bloomberg, global bond yields climbed to their highest level since the 2008 financial crisis, with the Bloomberg Global Treasury Index reaching 3.68% as the Federal Reserve, Bank of Japan, and Bank of England prepare rate decisions on July 28-29. US 30-year Treasury yields trade just below their highest level since 2007, while UK gilts have logged their longest streak of daily closes above 5% in almost two decades. Germany's 10-year yield reached its highest point since 2011, and Japan's five-year yield hit a record high since the maturity's launch in 2000. Markets are assigning roughly a one-in-three probability to a rate hike at the Fed's July meeting, with traders remaining uncertain on the policy path ahead.
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