The U.S. and European bond markets’ 10-year inflation forecasts increased to a record high as oil prices continued to rise with the U.S. mulling a ban on Russian imports.
The so-called 10-year breakeven rate, derived from the difference between conventional and inflation-adjusted Treasury yields, rose to as much as 2.785%, surpassing the previous high reached in 2005. A similar gauge for Germany surged as much as 23 basis points to an all-time high of 2.63%.
