By Marc Jones and Naomi Rovnick LONDON, Sept 24 (Reuters) - For years, 5% on the benchmark US 10-year Treasury yield was viewed as the point at which global financial markets would start hitting turbulence.

The benchmark 10-year U.S. Treasury bond yield again hit a 19-year high on Wednesday, as the market sell-off continues amid the Iran war and rising government debt. The 10-year note closed at 5.11 percent on Wednesday,

The Singapore dollar consolidated against its U.S. counterpart. Geopolitical tensions remain high, after Iran warned that the Strait of Hormuz would remain vulnerable while sanctions remain in place,

Wednesday, Iran’s President Masoud Pezeshkian said Tehran was prepared to negotiate with the US, and the FT’s Sam Fleming explains why the UK budget is in a tight spot. Plus, billions of dollars of Rosneft’s foreign earnings were funnelled through a Kremlin-backed money-laundering network,

The yields on U.S. Treasury bonds surged Wednesday as oil prices also climbed.

Treasury yields soared on Wednesday to their highest level since 2007 while bitcoin’s price slumped. Bitcoin’s price slid on Wednesday, just as U.S. Treasuries surged, with the 10-year yield climbing above 5% and reaching — its highest level since 2007.

Don’t wait until December: The bond market selloff has opened a tax-loss harvesting opportunity for investors to offset big gains from stocks.