Fed’s Hawkishness Catches On as Bond Yields Hit Multi-Year Peaks
- U.K. five-year yields breach 1% for first time since 2019
- Treasury yields extend advance from start of London trading
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Bond yields worldwide held near pre-pandemic highs as the Federal Reserve’s hawkish stance prompts investors to brace for faster withdrawal of monetary stimulus from other central banks across the globe.
U.K. five-year yields breached 1% on Monday to hit the highest since March 2019, while German 10-year yields came within three basis points of breaking into positive territory for the first time since May 2019 before pulling back. That came as benchmark Treasury yields held near levels last seen in early 2020.