Global Bond Rout: Sovereign Yields Hit 2008 Highs

The synchronous jump across US, Japanese, and UK yields signals a global repricing of risk-free rates, not just a local Fed story. The move challenges the assumption that central banks will ride to the rescue, as fiscal worries and energy costs compound monetary tightening. For crypto and tokenized assets, the key watchpoint is whether this yield spike forces a sustained rotation out of risk assets or if digital markets have already decoupled from traditional duration stress. Whether 5% becomes a durable floor or a transient overshoot is the open question that will shape liquidity conditions.