Treasuries Lead Global Bond Selloff Amid Corporate Supply Surge
Japan’s two-year borrowing costs climbed above 1% for the first time in 17 years.
Photographer: Kiyoshi Ota/BloombergTreasuries slumped as a surge in sales of corporate bonds — a sign of favorable financial conditions — and a global selloff in government bonds ushered in the last month of the year.
Yields climbed by at least five basis points to the highest levels in about a week. The move accelerated during the US morning — led by long-maturity tenors, which ended about eight basis points higher — after Merck & Co. slated the largest of a slew of corporate bond offerings that totaled $15.8 billion.