LONDON/SYDNEY—The benchmark 10-year Treasury yield rose above 5 percent and to its highest since 2007 on Monday, as a roaring U.S. economy led investors to expect interest rates to stay high for an extended period.
The combination of those higher yields and risk of a wider conflict in the Middle East soured sentiment at the start of a week full of mega-cap earnings and key data, and pushed global shares down to seven-month lows.
