Tantrum or not, the extraordinary spike in government bond yields is something to take seriously, writes Peter Lowman...
The sharp sell-off in government bond markets over recent weeks has posed the question of whether the 30-year bull market has finally come to an end. There is some justification in thinking this might be the case. If we look at German 10-year government bond yields, they have risen from 0.05% to 0.60% over a very short period of time. Likewise, since the middle of April, bond prices for 30-year paper in Germany, the United States and the United Kingdom have fallen by about 15%, 5%, and 7% respectively, prompting a substantial rise in yields across the spectrum. Recently from Pete...
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