10-Year Treasury Yield Hits 4.72% as Middle East Conflict Drives Global Bond Selloff

On August 18, 2026, the 10-year U.S. Treasury yield rose three basis points to 4.72%, a multi-decade high, per Swissinfo. JGB yields hit a multi-decade intraday high near 2.97%, and euro zone long-dated sovereign yields reached multi-year highs, per Reuters. Brent crude climbed to $91.15. The active U.S.-Israel-Iran conflict has removed the ceasefire buffer that briefly cooled oil-driven inflation pressures in May. Higher yields mean costlier borrowing for mortgages and business loans; they also lift returns on new savings and bond purchases.