France’s 10-Year Bond Yield Reaches 4.989%, Highest Since 2002

France’s 10-year government bond yield reached 4.989%, its highest level since 2002, as borrowing costs climbed across major bond markets.

The French yield was 4.9501% in an earlier market update. The U.S. 10-year Treasury yield reached 5.3338% on Oct. 1, its highest level since April 2002.

Yields also rose in Japan, Germany, Italy and the United Kingdom in the earlier market update. Rising oil prices and inflation concerns accompanied the broad bond selloff.