Bond Yields Break Out Around The World As Japan’s Record Stock Rally Ends

Jon Alternative Media, Blogosphere, Economy, Fiscal Policies, Government

S&P futures are fractionally in the red while traders await President Trump’s pick for Fed chair and more clues on the fate of tax reform; Asian stocks slide, European shares are little changed ahead of tomorrow’s ECB tapering announcement as US 10Y yields finally break out of their multi-month range below 2.40%…

… pushing wider to 2.45%, the highest since March, following a rout in Chinese government bonds markets, where the 10-year yield rose by 6 basis points, the most since May 10, to 3.79% the highest level since December 2014 as the central bank halted cash injections and after comparable U. S. yields surged 5 bps on Tuesday. Of note, traders were concerned about the sudden shift in the PBOC posture, which did not inject money on a net basis for the first time in 6 days.

This post was published at Zero Hedge on Oct 25, 2017.