US Treasury Bond Yields Hit Highest Level Since 2007

The US Treasury bond yields have reached their highest level since 2007 due to rising price pressures caused by the Middle East war and growing anxiety about American deficit spending.

The yield on the 30-year US Treasury bond climbed to 5.34 percent before pulling back, while the 10-year note's yield stands at 4.71 percent, up from 3.94 percent in late February.

Analysts attribute the surge in yields to investors' growing concern about prolonged inflation and the possibility of a delayed response from the Federal Reserve.

The current jump in yields follows earlier spikes in May and July that coincided with oil price surges, and comes after the Fed kept interest rates unchanged on July 29 despite elevated inflation.