Bond Selloff Exposes ‘Vulnerability’ in Markets, El-Erian Says
- US job data underscores solid US economy and global divergence
- Higher yields in US is exposing weaknesses around the world
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A resilient labor market signals the US is leading the global economy, and high US bond yields put pressure on others like the UK, according to Mohamed El-Erian.
US Treasuries sold off across the curve, sending 10-year yields to the highest since 2023, after the job report showed the employment in December advanced by the most in nine months.