US Bond Market Nears 'Inflection Point' as 10-Year Yield Climbs Above 4.40%

Bloomberg reported on March 24 that the US Treasury bond market was approaching an 'inflection point' after a sustained selloff driven by oil-price inflation fears from the Iran conflict. The 10-year Treasury yield rose above 4.40% — its highest level since mid-2025 — as bond traders exited positions on fears that oil-driven inflation would prevent Federal Reserve rate cuts. Short-maturity yields also surged as markets began pricing in a scenario where the Fed might need to hold rates higher for longer. Bond traders who had positioned for a 2026 easing cycle found themselves caught off guard, accelerating the position unwinding.