- Yields on the longest-dated US government bonds climbed to the highest level since 2004, extending a selloff that has run for months.
- The move is attributed to inflation and fiscal concerns rather than a single data release, keeping duration risk at the center of the macro debate.
- The 30-year reaching a two-decade high pressures long-duration assets and steepens the term premium narrative.
Quotes
“Yields on the US government’s longest-dated bonds climbed to the highest level in more than two decades, the latest milestone notched in an extended bond selloff driven by inflation and fiscal concerns.”