Global Bond Insights

US Treasury yields fell as oil prices plunged on de-escalation hopes.

• 10-year yield declined almost 7bp to 4.676%
• 2-year yield fell 5bp to...

Korean Treasury yields diverged sharply despite a 4bp drop in US 10-year yields during Asian trading.

• Short end eased: 2-year yield fell 3.1bp to...

New Fed Chair Warsh's vague communication after holding rates drew sharp market criticism, widening the credibility gap with investors.

Bond markets...

Corporate bond spreads have long exceeded actual default losses, creating a puzzle for investors. A new Wharton study of 128 years of data shows this...

Citadel Securities forecasts technology firms will issue more than $500 billion in debt by 2028 to fund AI chips, equaling over 5% of the Bloomberg US...

UK Gilt Yield Spike

• 🔥 One-Month Highs: UK bond yields hit one-month highs as Middle East tensions shift BoE rate-hike expectations forward from...

Japan's bond market faces acute pressure as rising yields coincide with a massive fiscal push.

• Debt burden intensifies: At 187% debt-to-GDP,...

Inconsistent Fed messaging driven by shifting personalities risks amplifying bond market volatility and clouding rate path expectations. The article...

UK 2-year gilt yields jumped 11bp to a one-month high of 4.349% as Middle East tensions drove oil prices higher and shifted BoE rate-hike expectations...

No significant updates today.

SpaceX's 30-year spread breached 2.24pp—well above BBB (0.92pp) and BB (1.55pp) averages—while Oracle and Amazon long bonds face similar...

China's government bond yields declined through the first half amid an accommodative policy stance, ample liquidity, weak domestic demand, and...

LatAm bond spreads remain tight as issuance slows, a development EM bond investors should track for signs of underlying resilience or emerging complacency.

Rating Actions

• 🔥 China Limits Triple-A Ratings: Regulators are pressuring agencies to limit triple-A designations for higher-interest corporate...

The 30-year Treasury sold at 5.058% on July 9, the highest auction yield since 2007.

• Rate path: PGIM expects long-term yields to reach 5.5% within...

• Renewed US-Iran strikes have sent oil above $74 and pushed the 10-year Treasury yield to 4.56% as inflation fears resurface.
• Fed rate-hike odds...

China's crackdown targets ratings inflation in its vast corporate bond market.

• Regulatory push: PBoC instructed agencies in April to review...

Fiscal deterioration is lifting long-term sovereign yields in major developed markets.

• France's 30-year yields reached their highest level since...

U.S. Treasury Auction Results

• 🔥 $22 Billion 30-Year Auction: The U.S. Treasury auctioned $22 billion of 30-year bonds at a high yield of...

Renewed U.S.-Iran airstrikes and Trump's ceasefire warning lifted oil prices and sent bonds lower midweek. Treasury and European yields climbed to...