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  • NEWS Desk Global

WORLD'S BIGGEST BOND MARKETS HIT BY HEAVY SELLOFF

A sustained selloff in world government bonds on Wednesday briefly drove up U.S. 30-year Treasury yields to 5% for the first time since 2007 and German 10-year yields to 3%, moves that could hasten a global slowdown and hurt stocks and corporate bonds.

A calmer tone set in later on Wednesday, with bond yields retreating. But with ever resilient U.S. economic data, a sharp unwinding of traders' positions for a bond rally and rising bond supply, the growing sense that interest rates in major economies will stay higher for longer to contain inflation has hit home.

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