Global bonds stabilize post sell-off
Global bond markets experienced stability after a sharp sell-off that pushed U.S. borrowing costs to their highest levels since 2002, with European bonds showing mixed performance. The yield on 10-year U.S. Treasury bonds remained at 5.24%, while German bond yields declined to 3.43% and French bond yields to 4.91%, with the spread between them reaching a record high since 2012 due to concerns over France’s public finances. This came amid rising inflation in the Eurozone, which reached 3.8%, the highest in three years, despite the euro slipping slightly against the dollar to 1.123. Oil prices also fell, with Brent crude decreasing by 2.1% to $100.15, helping to calm markets, while global equities saw limited gains. There are warnings about the impact of rising yields on financial conditions and European financial markets.
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