Global bond markets plunged as investors worry interest rates will stay high.
Adrian C. Spitters FCSI?, CFP?, CEA? President, Author, Private Wealth Advisor
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The yield on the 10-year US Treasury hit 4.69%, a 13-year high. The UK 10-year yield jumped 20 basis points.
This bond selloff comes despite a top US central banker saying rates may rise too fast. Weak consumer spending data also suggests rates could fall.
But hawkish central bank comments keep dashing hopes for a rate cut. September was the worst month for bonds in 7 months.
Investors now accept there will be fewer rate cuts for longer. The Fed remains committed to taming inflation, even if it means job losses.
Key events this week may move markets if central bankers reiterate their hawkish views. But a US government shutdown could shift momentum toward lower rates.
Stocks were mixed as the rate-hike rollercoaster continued. Higher rates threaten the economy but may help tame inflation.
The bond plunge shows investors see no rate relief in sight. Central banks seem poised to stay the course despite recession risks.
For full details, you can read the following article here: Bond Selloff Continues Amid Mounting September Losses.
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