Benchmark US government bond yield hits 19-year peak as oil prices surge

TL;DR

The 10-year US Treasury yield hit 5.02 percent on Tuesday for the first time since the 2007 global financial crisis. The benchmark United States government bond rate has climbed to its highest level in 19 years as traders bet on a Federal Reserve interest rate hike following a new rise in oil prices. On Tuesday, the 10-year US Treasury yield hit 5.02 percent, a level unseen since the 2007 global financial crisis.