The Global Bond Market Is Having a Lousy Year-End

Higher sovereign supply, hawkish central banks play a role
U.S. curve steepens most in a year; German bund yields jump

Bloomberg’s Garfield Reynolds reports on the eye-popping moves in bond yields.(Source: Bloomberg)

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By Brian Chappatta and John Ainger

December 20, 2017 at 4:20 PM UTC

This article is for subscribers only.

The global bond market isn’t going quietly into the New Year.

In a few swift moves this week, 10-year Treasury yields smashed above key levels to the highest since March. The yield curve, which had been relentlessly flattening, steepened the most since September 2016, while market-implied inflation rates reached an eight-month high as U.S. tax cuts were on the brink of becoming law.