10-year U.S. Treasury yield hits highest level since November 2023 as global bond sell-off continues

JUST IN: The US 10-year Treasury yield hits its highest level since November 2023 at 4.81% as a global bond sell-off deepens on renewed inflation fears.

The US ten year Treasury yield just touched 4.81 percent, its highest since November 2023.

That's the number your mortgage, your car loan and your credit card all answer to, and it's climbing. Investors everywhere are demanding a bigger premium to hold government debt, thirty year US paper is up at 5.29 percent, and the driver is fear that inflation is digging in, stoked by the latest escalation in the Middle East. Traders now expect rate hikes this month, in the US and beyond. Hikes. In 2026.

Dan Coatsworth at AJ Bell says investors are staring directly into the eyes of an inflation monster. And his read on why nobody's buying yet is telling. Bond investors think yields could climb even higher, so they're sitting on their hands, waiting for a better entry.

When the safest asset on earth keeps getting cheaper, everything priced off it gets more expensive. That's the whole story.

This is Sara White, reporting for HIT.