India, Sept. 15 -- The yield on the US 10-year Treasury note climbed to 5.02% on Tuesday, rising as much as 4 basis points. This is the highest level since 2007, meaning the yield has reached a level not seen in almost two decades.

The move is part of a wider global selloff in government bonds. Rising energy prices, high government debt and inflation fears are putting pressure on bond markets.

A fresh rise in global oil prices helped push Treasury yields higher. Investors are worried about possible disruptions to Middle Eastern oil and gas supplies. Higher oil prices can increase inflation because energy is a major cost for consumers and businesses. If inflation stays high, investors may expect interest rates to remain higher for longer...