Global bond sell-off resumes as 30-year Treasury yield hits highest since 2002
French, Italian and UK government bonds also come under pressure in volatile trading
Source: Financial Times
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DW NOTE
The 30-year hasn't been this high in 22 years, and the fiscal trajectory that got us here has only accelerated: the US deficit through June 2026 was $1.97 trillion, 3% higher than last year, with no policy change in sight. Bondholders are repricing sovereign credit risk in real time, and the fact that French, Italian and UK gilts are selling off in tandem suggests this isn't a US-specific problem — it's a recognition that developed-market governments have spent a decade treating bond markets like a utility they control rather than a market that can revoke confidence.