Global bond selloff deepens as US 30-year Treasury yield hits highest since 2004

Reuters reported on September 24 that global bond prices were falling and yields rising. The US 30-year Treasury yield touched 5.48%, its highest since 2004, while the benchmark 10-year yield reached 5.20%. Bond prices and yields move in opposite directions, so selling pressure raises the yield investors demand.

The move was not confined to the United States. Reuters said Germany's 10-year government-bond yield briefly rose above 3.6%, around a 17-year high, while Japan's 10-year yield reached its highest since 1996. Long-term borrowing costs were therefore under pressure across major economies.

Several forces were converging: the Iran war had raised energy costs and inflation risks; US growth remained firm; government spending and debt issuance were heavy; and AI-related capital expenditure was increasing demand for funds. Investors were demanding higher returns to hold long-duration debt.

Mortgage markets were already reflecting the rise. Freddie Mac's official weekly survey dated September 24 put the average US 30-year fixed mortgage rate at 7.03% and the 15-year rate at 6.42%. Reuters said the 30-year rate was about one percentage point above its pre-Iran-war level, increasing monthly-payment pressure on buyers and refinancing households.

The US Treasury secretary had taken extraordinary steps, including buybacks of longer-dated debt, to support market functioning, but yields kept climbing. Energy prices, inflation expectations, government borrowing, central-bank policy and liquidity remain key variables. An intraday high can change and does not mean every borrower receives the same rate.

Verification status: confirmed. News value: A-level major news. Origin region: United States. Primary section: Economy. Related regions: Canada, Europe, Asia and World. Source time: September 24, 2026, 09:04 UTC, subsequently updated by Reuters. Report time: September 25, 2026, 02:03 UTC.