Global Bond Selloff Extends in Asia After US CPI: Markets Wrap
Written by Black Hot Fire Network on April 11, 2024
(Bloomberg) -- Bonds in Asia fell sharply after higher-than-expected US inflation supported the view that the Federal Reserve is in no rush to cut interest rates.
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Benchmark 10-year yields in Australia and New Zealand climbed by more than 10 basis points. Their Japanese counterpart rose to the highest since November. US Treasuries recovered slightly after a Wednesday selloff lifted the 10-year yield above 4.5% for the first time in five months.
A gauge of global bonds suffered its worst performance since February 2023 on Wednesday . . .
