Janus Henderson's Bill Gross has tweeted a "bond bear market has been confirmed" as the 10-year US Treasury yield climbed to the highest level in around 10 months.
The yield rose seven basis points on Tuesday (9 January) to top 2.55% for the first time since March and the Treasury curve from two to ten years steepened by six basis points, the most in more than a year, according to Bloomberg. Its rise came amid a glut of bond supply from the US, the UK, Japan and Germany, and a surprise cut in purchases of long-dated Japanese government bonds by the Bank of Japan (BoJ). The BoJ's actions are not seen as a sign of an impending shift from ultra-accommodative policy, but yet another sign of central banks stepping back from global bond markets, as th...
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