US Bond Yields Spike Upward as Traders Rethink Rate Cut Bets
• US Treasury yields rose sharply, joining a global bond selloff as traders pared bets on deep central bank interest rate cuts • The moves reflect doubts that policymakers will deliver the extent of monetary easing priced by markets • While central banks signaled the end of hiking cycles, they remain reluctant to give up inflation fight • Hefty new corporate bond issuance also weighed on government bonds • Economic data and central bank minutes this week may provide clarity on rate cut outlooks