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Bond markets are starting to do some of the lifting for central banks around the world by pushing up borrowing costs themselves, potentially reducing the number of benchmark interest-rate hikes needed to get inflation under control.
Yields surge to multi-year highs after weeks of selling, tightening financial conditions Read more at The Business Times.
Last week, The Economist ran with the stark question, “Will bonds blow up?”. Many on social media were quick to joke that this was an indication that the opposite is about to happen.