🚨🚨US Treasury yields are surging to multi-year highs: The 30-year US Treasury yield rose to 5.16% on Monday, the highest level since October 2023, while the 10-year yield touched 4.63%, the highest since February 2025. This comes as surging energy prices are forcing traders to price in higher inflation for longer. As a result, markets are now pricing in a Fed rate hike in March 2027 as a near certainty. Over the next few weeks, the 10-year yield could rise further to the 4.75% to 5.00% range, a level that would depress earnings expectations and challenge bullish calls on equities. The bond selloff is spreading globally, with 30-year UK yields approaching 6%, German long-term yields at their highest since 2011, and Australia's long-end yield at a record high. If yields keep rising, equity markets will struggle to hold their ground.