In November, a noticeable split was observed in the bond markets. The yield on U.S. Treasury bonds rose by 60 basis points, reflecting stronger economic data and rising inflation expectations. Analysts at Capital Economics forecast that yields could reach 4.5% by the end of the year.
In contrast, the yield on 10-year German bonds fell by nearly 30 basis points due to worsening economic conditions. The yield on Japanese bonds increased slightly, which was attributed to the fall of the yen after the elections.
