US 30-year bond yield hits 24-year high

The US 30-year bond yield hit a fresh 24-year high on Wednesday as a selloff in world bond markets resumed after a day of respite. The 30-year yield briefly touched 5.7041% ahead of the Federal Reserve's September meeting minutes release later in the day. The sharp climb reflected intensifying pressures across global fixed-income markets as investors reassessed yield expectations.

Global yields resumed their upward trajectory, reversing relief felt in the previous session as inflation and fiscal worries weighed on sentiment. Oil prices rose again, with Brent crude futures up over 1% on the day at around $101.54 a barrel. Traders also awaited a 10-year Treasury bond auction later in the day and a 30-year auction on Thursday, marking further tests of investor appetite for US bonds.

The bond market movements reflected broader concerns about elevated interest rates and government debt loads worldwide. These upcoming auctions would provide critical signals about market conditions and investor sentiment toward US fixed-income assets as macroeconomic uncertainties persisted.