The US 10-year Treasury yield hovered around 5.32% on Tuesday, remaining near its highest level since 2002 as the global bond selloff persisted amid growing fiscal concerns and stubborn inflation pressures. Selling was also widespread across global bond markets, with French yields climbing to more than two-decade highs as heavy debt burdens and political deadlock weighed on sentiment. Spanish yields also moved higher on Monday after Prime Minister Pedro Sanchez announced a snap election for November 29. In the US, ISM data showed that input cost pressures across the services sector accelerated at their fastest pace in more than four years last month. Meanwhile, markets are assigning roughly a 78% chance that the Federal Reserve will leave rates unchanged this month following weaker-than-expected employment data. Investors are now turning their attention to Wednesday’s meeting minutes for additional signals on the Fed’s future policy direction.