US 10-year yield hits highest level since 2007

The benchmark 10-year US Treasury yield crossed 5% for the first time since 2007/2023, driven by lingering inflation shocks, widening Middle East conflict, rising oil prices, and hawkish policymaker posture, while Treasury Secretary Scott Bessent defended his bond buyback program in contentious congressional hearings.

• US 10-year Treasury yield reached its highest level since 2007.
• Treasury Secretary Scott Bessent defended the bond buyback program in congressional hearings.
• Ten-year Treasury yield hits 5% for the first time since 2023.
• The increase is driven by lingering inflation from the Iran war.
• US 10-year Treasury yield exceeds 5% for the first time since 2023.
• Widening Middle East conflict pushes oil prices higher and hardens central bank posture.