US 10-year yield hits 5.34%, highest since 2002, in global bond selloff

The US 10-year Treasury yield rose as much as 4 basis points to 5.34% on October 1, 2026, its highest level since 2002, before easing to about 5.29%. Brent rose 2.4% to $100.37 the same day. The Financial Times cited oil-driven inflation fears from the Iran war, strong US data, forced selling by large investors, and deficit and issuance concerns.

• 10-year yield: intraday high 5.34%, later 5.29%
• Brent: up 2.4% to $100.37 the same day
• UK 30-year gilt above 6% for the first time since 1998, then 5.94%
• Cited drivers: oil shock, strong US data, forced selling, fiscal concerns