Global bonds sell off on inflation shock; 30-year yield hits 2007 high

A sharp global bond rout intensified on May 15 as oil price spikes and Iran war concerns reignited inflation fears, pushing the US 30-year Treasury yield to its highest level since 2007 and pressuring equity valuations across all major indices. The selloff spans Japan to the US, with gilt yields surging in the UK and forcing a reassessment of rate-cut expectations into 2026.