Global Bond Yields Hit Multi-Decade Highs
Global government bond yields reached multi-decade highs during the third quarter driven by persistent fiscal and inflation concerns. Despite the bond market sell-off, global equities continued to rise on strong corporate earnings.
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The benchmark 10-year U.S. Treasury yield hit a 24-year high of 5.34% on Thursday after climbing more than 80 basis points during the third quarter. Global equities continue to defy the bond rout, supported by corporate earnings growth. This resilience faces a fresh test heading into the final quarter of the year.
