Rolling coverage of the latest economic and financial news, as fears of high interest rates hit the bond market
Both equities (shares) and bonds are under pressure today, reports Victoria Scholar, Head of Investment at interactive investor:
The US 10-year Treasury yield rose above 4.86%, hitting fresh 2007 highs. Long-term US yields hit 16-year highs while Germany’s 10-year yield surged above 3% for the first time since June 2011.
The moves have been driven by forecasts for higher for longer interest rates and strong US economic data that could embolden the Fed to carry out further tightening.
