The Global Bond Rout Catches Up With Wall Street’s Risk Rally
Bloomberg.com • • general
Key Points:
- The S&P 500 dropped over 1% on Friday, primarily due to declines in technology stocks, as a global bond selloff impacted market sentiment.
- Treasury 10-year yields rose above 4.5%, with Japan’s 30-year borrowing costs hitting 4% for the first time and UK long bond yields reaching a 28-year peak.
- Oil prices surged past $105 per barrel following a Trump-Xi summit in Beijing that failed to resolve tensions around the Strait of Hormuz.
- The bond market selloff interrupted Wall Street’s recent risk-driven rally, signaling increased caution among investors.