Global bond sell-off resumes; 30-year Treasury yield hits highest since 2002

A renewed global bond sell-off pushed the 30-year US Treasury yield to its highest level since 2002, with French, Italian, and UK government bonds also under pressure in volatile trading. The move suggests persistent inflation or growth concerns are driving long-end yields higher, though the specific trigger remains unclear. This matters as rising long-term yields could tighten financial conditions and pressure equity valuations.