US 10Y Yield Hits 5.03%, Highest Since 2007; Global Stocks Slide

The U.S. 10-year Treasury yield surged to 5.03%, a level last seen in July 2007, with European yields also rising (German 10Y at 3.55%, French at 4.53%). The move is attributed to rising inflation expectations, pressuring global equities. This marks a significant repricing of long-term rates, potentially signaling sustained inflation and tighter financial conditions.