Worst German Bond Rout Since 1990 Prompts Selloff Around World
- Bund yield rose most on Wednesday since after Berlin Wall fell
- Japan, Australia yields soared; Treasuries were little changed
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German bonds extended their rout, with debt markets around the world sliding in the wake of Berlin’s historic plan to unlock hundreds of billions of euros for defense and infrastructure.
Yields on 10-year bunds continued their march higher, adding as much as 14 basis points on Thursday to reach 2.93%, the highest since October 2023. The rate jumped 30 basis points on Wednesday — the biggest increase since the months after the Berlin Wall fell in November 1989.