Global Bond Selloff Raises the Cost of Capital for Asian Markets

New York, 25 September 2026 – A fresh rise in long-term US Treasury yields is tightening the financial backdrop for Asian investors as oil prices and inflation concerns challenge bond markets. The US 30-year yield reached 5.48% on Thursday, its highest level since 2004, while the benchmark 10-year yield touched 5.20%. Because bond prices move inversely to yields, the figures reflect a material repricing of long-duration debt.

The selloff is not confined to the United States. Germany’s benchmark 10-year yield briefly exceeded 3.6% this month, its highest in 17 years, and Japan’s 10-year yield reached a level not seen since 1996. Different national policies and growth patterns are involved, but the common pressure is that investors now demand more compensation for inflation, fiscal borrowing and uncertainty over future interest rates.