The bond market's months-long selloff in US Treasuries reached a milestone this week as the benchmark 10-year yield exceeded 5% for the first time in almost three years, driven by hot inflation, swelling budget deficit and a flood of corporate issuance. The yield then hit the highest level since 2007 as oil gained on growing risks to global supplies. Despite the anxiety gripping the world's biggest bond market, some investors see a compelling reason to buy: income.

The selloff has created opportunities for investors willing to navigate the volatility, with some finding attractive yields in the current environment. While the market faces headwinds from economic uncertainty, the higher rates present a chance for income-focused investors to capture substantial returns in the current climate.