Government bond yields worldwide surged, with long-dated yields in the United States, Japan, Germany and France reaching multi-decade or multi-year highs as oil held above $90 a barrel and investors reassessed inflation and supply risks tied to the U.S.-Iran standoff. In the United States, the 30-year Treasury yield climbed to 5.327%, its highest in 19 years, while the 10-year rose to 4.739%. Analysts said the selloff is also being driven by worsening U.S. public finances, expectations for increased Treasury issuance and heavy bond fundraising by large technology companies to finance AI infrastructure, which is competing with government debt for investor demand. OCBC's Vasu Menon said long-term Treasury yields remain a key risk factor and advised investors to focus on short-term bonds where possible.