Global bond yields surge to highest levels in decades
Global bond yields hit their highest levels for decades amid inflation and debt-burden concerns as central banks raise rates. Japanese 10-year yields reached 3% for the first time since 1996; Deutsche Bank says the sell-off is global.
Renewed conflict in the Gulf pushed oil prices up, and the US Federal Reserve chair made hawkish noises last week.
Global bond yields hit their highest levels for decades over concerns about inflation, debt burdens, and central banks raising interest rates.
Renewed conflict in the Gulf pushed oil prices up, and the US Federal Reserve chair made hawkish noises last week, while borrowing levels across the rich world look unlikely to abate anytime soon.
Japanese 10-year bonds typify the surge, with yields hitting 3% for the first time since 1996.
Tokyo is planning a huge economic stimulus and greatly increased defense spending, alongside reduced tax cuts, fueling fears about Japan’s fiscal stability, while inflation has accelerated.
But “ the bond sell-off has been a global affair,” Deutsche Bank analysts told investors.