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The 10-year Treasury yield rose above 5 per cent on Monday for the first time in 16 years, extending a multi-week rout in bonds as investors bet that the Federal Reserve will keep interest rates at their current high levels for longer.
The 10-year yield, which is the benchmark for asset prices across the globe, rose by 0.078 percentage points to 5 per cent, its highest level since July 2007, extending a steady repricing of government debt which has been fuelled by better than expected economic data and an increase in government bond supply.
