Global Bond Selloff Ramps Up; Bund Futures Down

Good morning. Global bonds follow German bunds lower. Automakers get a one-month reprieve from Trump’s tariffs on Mexico and Canada. And Volkswagen unveils an affordable electric compact car with an unusual name. Listen to the day’s top stories.

A bond selloff accelerated, pushing benchmark Japanese government bond yields to the highest in more than a decade after bunds were heavily sold on a dramatic change in the German government’s spending plans. Yields in Australia and New Zealand surged and bund and US Treasury futures dropped.