The global Treasury index yield has topped 4%, the highest since September 2000.

The yield on the Bloomberg Global Aggregate Treasury Index has climbed above 4%, marking its highest level in nearly 26 years since September 2000.
The milestone reflects a broadening worldwide sovereign debt sell-off, driven by persistent fiscal deficits, elevated government issuance, and expectations of prolonged restrictive policy rates across major central banks. The surge has been spearheaded by upward pressure in benchmark U.S. 10-year Treasury yields—which recently tested multi-decade highs above 5.3%—alongside climbing sovereign borrowing costs across the UK, Australia, and New Zealand.
The ascent past 4% underscores tightening global financial conditions and increases debt-servicing burdens for sovereign issuers, while simultaneously raising discount rates across risk assets and equity valuations.