US Bonds Cap Worst Weekly Rout in a Year on Inflation Fears (3)

Government bond markets tumbled around the world, sending yields surging from Japan to the US on intensifying fears that the war-driven price shock will force central banks to raise interest rates to contain the impact.

The rout was led by longer-dated bonds that are the most vulnerable to accelerating inflation, sending 30-year US Treasury yields to the cusp of their 2023 peak. US 10-year yields rose 12 basis points to 4.6%, capping the biggest weekly jump since President Donald Trump’s tariffs threw markets into a tailspin in April 2025.

Japan’s 30-year yield hit 4% for the first time since ...