Дело не только в США: глобальные доходности по облигациям достигли максимумов за несколько десятилетий. Пора волноваться?

BeInCrypto Global · 2026-09-16T06:37:36.000Z

На этой неделе базовые доходности 10-летних гособлигаций взлетели до рекордных уровней за десятилетия сразу в пяти крупнейших экономиках. США и Великобритания достигли значений, которые не наблюдались с 2007 года, а Япония — уровня, не виданного с 1996 года. Доходность 10-летних гособлигаций Германии поднялась до максимума с 2009 года, тогда как во Франции она достигла уровня, не наблюдавшегося с 2008 года. Нефть выше $100 за баррель снова разжигает опасения по поводу инфляции накануне серии встреч центральных банков на этой неделе. Синхронная переоценка Эти действия знаменуют один из самых масштабных за годы распродаж облигаций. Новое обострение на Ближнем Востоке подтолкнуло цены на нефть вверх, создавая риск вновь разогнать потребительскую инфляцию.

Benchmark 10-year government bond yields surged to decades-high levels across five major economies this week. The US and UK hit marks last seen in 2007, while Japan reached a level unseen since 1996.
Germany’s 10-year yield climbed to its highest point since 2009, while France’s reached a level not seen since 2008. Oil above $100 a barrel is reigniting inflation fears ahead of a cluster of central bank meetings this week.
A Synchronized Repricing
The moves mark one of the broadest bond selloffs in years. Renewed Middle East hostilities have pushed crude prices higher, threatening to reignite consumer inflation.
The 🇺🇸 10-year Treasury yield just climbed to its highest level since 2007The German 🇩🇪 10-year yield just climbed to its highest level since 2009The Japan 🇯🇵 10-year yield just climbed to its highest level since 1996The United Kingdom 🇬🇧 10-year yield just climbed to its…
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That pressure has pushed yields to levels Bitcoin has never seen since the asset’s creation.
Heavy government debt issuance is compounding the pressure. US bonds’ worst decade in more than two centuries adds to the supply investors must absorb. Japan’s debt load, above 200% of gross domestic product, leaves Tokyo especially exposed to rising borrowing costs.
Why Yield Matters
Higher long-term yields ripple into mortgage rates, corporate borrowing, and government budgets. Analysts single out France as the most exposed among major economies.
“The most vulnerable sovereigns are those combining large fiscal deficits, elevated debt burdens and reliance on external capital. France stands out among developed markets.”
Masahiko Loo, senior fixed income strategist at State Street Investment Management, told CNBC.
Markets are also bracing for the Fed’s rate decision this week, with traders pricing high odds of a hike. That could either steady or extend the global selloff.
The synchronized rise across the US, Europe, and Japan is not a single-country story. It reflects a broader repricing of sovereign risk and inflation expectations. Whether the trend stabilizes or accelerates further may hinge on how central banks respond in the coming days.