US 30-year Treasury yield hits highest since 2002 on inflation, oil

The US 30-year Treasury yield reached its highest level since 2002, reflecting a continued selloff in government debt driven by persistent inflation and surging oil prices. This marks a significant milestone in the bond market, indicating heightened inflation expectations and potential pressure on long-term borrowing costs. The development underscores market concerns about the Federal Reserve's ability to control inflation without triggering a recession.