Long Bonds Around the World Get Hit by Inflation, Spending Focus
The US Treasury building in Washington, DC.
Photographer: Joshua Roberts/BloombergLong-dated bonds from the US to France and the UK slumped on Tuesday, extending this year’s selloff that’s been driven by growing investor concerns about inflation and government spending.
The yield on 30-year Treasuries increased to 4.9% after President Donald Trump pushed to remove Federal Reserve Governor Lisa Cook. In the UK, gilt yields of the same maturity came close to a 27-year high, and the Japanese ones are already near a record. Investors also pushed up French borrowing costs as the prime minister announced he would call a confidence vote.