Global fixed income markets are in turmoil, with record-high sell-off of US Treasury bondsđł
So much for a quiet end to the summer.
Treasury bonds saw the 6th consecutive day of sell-off, with 30y yields rising to nearly 4.40%, breaking the panic highs in 2022 and approaching levels last seen in 2010/2011. The pandemonium started with the weakest 20y JGB auction in recorded history with a 7bp tail, causing their yields to spike by 7-10bp across the curve and catalyzing the global fixed income sell-off right from the morning.
