Global Bonds Slide as China Reopening Fuels Inflation Angst
- Yields on long-tenor US Treasuries hit highest in over a month
- European bonds underperform amid hawkish ECB commentary
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Global bonds fell in thin trading on concern China’s decision to relax coronavirus curbs would spur inflation.
European debt led the slide with German 30-year yields rising 18 basis points to 2.44%, the highest since October. The equivalent US Treasury rate was up 11 basis points at around 3.94%, the highest since mid-November, while the 10-year yield jumped 10 basis points to 3.85%. Volumes across markets were muted with several countries, including the UK, still on holiday.