Global yields rose today as markets adjusted to central banks keeping interest rates higher for longer.
Rate hikes by the central banks of Canada and Australia have spooked the global bond market.
Debate is raging on whether the dollar's best days are over.
U.S. government bonds dropped across the curve in earlier trading before erasing their move.
Yields are rising as investors fret that elevated U.S. inflation will prompt the Fed to tighten policy faster than anticipated.
The surge in Covid cases has hurt optimism that supply chains will return to normalcy in the near future.
Sovereign bonds issued by South Africa, China, Indonesia, India and Croatia topped the rankings.
Traders are considering the potential for the Fed to raise interest rates earlier than expected.
The curve reflects expectations of “slowing growth and simultaneous high inflation,” one money manager said.
Bonds have rallied this week as a spike in virus infections worldwide spurred demand for safety.
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