30-yr US bond yield hits highest level since 2007 financial crisis

The yield on 30-year US Treasury bond surged to 5.18% on Tuesday, reaching its highest level since 2007 global financial crisis. The sharp surge comes on the back of mounting investor anxiety amid fears of inflation, surging crude prices and expanding US government budget deficits. The 10-year Treasury yield also climbed, reaching 4.66%, its highest level in over a year.