Benchmark US government bond yield hits 19-year peak as oil prices surge

The 10-year US Treasury yield hit 5.02% on Tuesday, its highest level since the 2007 global financial crisis. This increase is attributed to bets on a Federal Reserve interest rate hike following a new surge in oil prices, surpassing $100 a barrel. Global bond yields have also reached highs, particularly in Germany and Japan, as tensions between the US and Iran continue to impact the markets.