US 30-year yield hits 2007 highs; global bond selloff accelerates on inflation fears

The 30-year Treasury yield surged to 5.11%, matching 2007 peaks, as investors fled bonds amid Iran war-driven oil shocks and rising inflation expectations. The global selloff spans all major sovereigns, pressuring equities and forcing a reassessment of rate-cut timing. Credit spreads widened, but corporate bonds outperformed as high yields enticed risk buyers.