The US 10-year Treasury yield breached a level last seen in April 2002, rising 4 basis points to 5.3338%, according to LSEG data.

In Europe, the French 10-year yield rose 11 basis points to 4.9501%, Italy’s was up 10 basis points to 4.7171%, and the UK 10-year yield rose 5 basis points to 5.483%.