Writing the summary…
10-year Treasury yield climbs to a 24-year high amid relentless global bond sell-off
Source: CNBC
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Bond sell-off: US government borrowing costs hit highest since 2002, as UK 30-year bond yield hits 6% – business live
Global bond rout kicks off again, with UK 30-year gilt yields hitting highest since 1998 Worryingly for Paris, the difference between French and German borrowing costs has widened to a 14-year high this morning. The gap between French and German government bond yields – a market gauge of the risk premium investors demand to hold French debt - was at 127.51 bps, after reaching 128.80 bps, its highest level since June 2012, Reuters reports . Inflation, deficit and issuance concerns continue to weigh on the bond market. There is also a buyers strike on the street as investors do not want to step in till we get some form of stability. Hedge Funds have suffered in the latest round of sell-off and do not have the risk appetite to fade the move. Real money, potentially has the risk appetite, but won’t step in till we get some stability. Continue reading...
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