Traders have priced in far fewer Fed rate reductions than they did just a month ago.
Five-year U.S. yields climbed 22 basis points last week, the most since the period to May 19.
Public debt across has soared to more than 112% of GDP in the First World, and bond investors can't overlook soaring budget deficits.
The former bond king just signaled he is now steering clear of Treasurys.
One both "bond kings" agree on is that the yield curve should become un-inverted again.
Last month's euphoria was largely driven by a sea change in expectations for Fed policy moves.
The latest move in the so-called term premium points to a higher recession risk.
Foreign investors sold $1.7 billion more worth of Treasurys than they bought in September.
Some investors remain nervous the market may be getting ahead of itself in betting on Fed easing.
Thursday was the worst day for the Bloomberg Treasury Index in more than six months.
Please log back in before proceeding.
There was an error logging in. Please try again.
Congrats! You are now logged in. Your exam is being submitted.
