This week the big story in markets is the selloff in bonds. Yields on benchmark 10-year US Treasuries jumped 20 basis points from last Friday’s low, while the 30-year rate is back above 5%. Meanwhile, 30-year Japanese government bonds clocked their highest yield since records began in 1999. And rates on UK gilts, German bunds, and Australian bonds are also rising. To make matters even more unusual, US Treasury yields are going up while the dollar is weakening (something that doesn’t usually happen.) So what’s going on? And how much does this have to with worries over the US fiscal position, the return of inflation, and the outlook for rate cuts from the Federal Reserve? On this episode, we speak with Steven Englander, global head of G-10 FX research at Standard Chartered. We talk about what’s driving the dramatic moves and the relationship between fiscal and monetary policy.

Read more:
Deglobalization’s Threat to the Bond Market
US Bonds Swing as Dip Buyers Enter After Moody’s-Fueled Selloff

Odd Lots Live is returning to New York City on June 26. Get your tickets here!

This week the big story in markets is the selloff in bonds. Yields on benchmark 10-year US Treasuries jumped 20 basis points from last Friday&rsquo;s low, while the 30-year rate is back above 5%. Meanwhile, 30-year Japanese government bonds clocked their highest yield since records began in 1999. And rates on UK gilts, German bunds, and Australian bonds are also rising. To make matters even more unusual, US Treasury yields are going up while the dollar is weakening (something that doesn&rsquo;t usually happen.) So what&rsquo;s going on? And how much does this have to with worries over the US fiscal position, the return of inflation, and the outlook for rate cuts from the Federal Reserve? On this episode, we speak with Steven Englander, global head of G-10 FX research at Standard Chartered. We talk about what&rsquo;s driving the dramatic moves and the relationship between fiscal and monetary policy. Read more: <a href="https://bloom.bg/43slJGL">Deglobalization&rsquo;s Threat to the Bond Market</a> <a href="https://bloom.bg/4jcOhtm">US Bonds Swing as Dip Buyers Enter After Moody&rsquo;s-Fueled Selloff</a> Odd Lots Live is returning to New York City on June 26. <a href="https://www.bloombergevents.com/oddlotsliveNY">Get your tickets here!</a>

Bloomberg's Joe Weisenthal and Tracy Alloway explore the most interesting topics in finance, markets and economics. Join the conversation every Monday and Thursday.

Bloomberg's Joe Weisenthal and Tracy Alloway explore the most interesting topics in finance, markets and economics. Join the conversation every Monday and Thursday.

Bloomberg's Joe Weisenthal and Tracy Alloway analyze the weird patterns, the complex issues and the newest market crazes. Join the conversation every Tuesday and Thursday for interviews with the most interesting minds in finance, economics and markets.

Odd Lots

On Bloomberg’s Odd Lots podcast Joe Weisenthal and Tracy Alloway explore the most interesting topics in finance, markets, and economics. Join the conversation every Monday and Thursday. 

On Bloomberg’s Odd Lots podcast Joe Weisenthal and Tracy Alloway explore the most interesting topics in finance, markets, and economics. Join the conversation every Monday and Thursday.

Why Interest Rates Are Shooting Up All Around the World

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