April PPI and Japanese Long-Bond Yields Deepen Global Debt Selloff
A broad pickup in US producer prices and fresh pressure in Japan's longest-dated bonds deepened a global debt selloff, extending the move that had already pushed the US 30-year Treasury yield to 5.03%, just 8 basis points shy of a new 19-year high. Average yields on long-dated government bonds have reached their highest levels since 2008.
April producer-price data showed final-demand services and goods both rose at their fastest pace since 2022, while the annualized three-month change in core PPI advanced 6.7% and truck freight transportation costs jumped 8.1%, the biggest increase on record. In Japan, the 30-year bond yield rose 10 basis points to 3.92%, on track for its highest daily close since its 1999 debut, and the 40-year yield climbed 6 basis points to 4.16%, on track for its highest weekly close since 2007. Mortgage applications increased 1.7% in the week ended May 8 even as the average 30-year mortgage rate rose to 6.46%.
From the sources (12 posts)
@globalmktobserv⚠️The US 30-year Treasury yield is testing a CRITICAL LEVEL AGAIN: The 30-year US Treasury yield crossed 5.0% on Tuesday, a level that has acted as a critical line in the sand for markets over the last 2 years. At 5%, government bonds bec
@lizannsondersRT @KevRGordon: 2y Treasury yield highest since last June
@globalmktobservRT @GlobalMktObserv: ⚠️The US 30-year Treasury yield is testing a CRITICAL LEVEL AGAIN: The 30-year US Treasury yield crossed 5.0% on Tues…
@globalmktobservRT @GlobalMktObserv: 🚨Japanese government bond yields are surging to historic levels: The 30-year JGB yield is up to 3.835%, the 2nd-highe…
@kevrgordonHighest close for the 10y Treasury yield since last July
@cointelegraph🚨 NOW: The US 30-Year Treasury yield has climbed to 5.03%, just 8 basis points away from a new 19-year high per Bianco Research.
@lisaabramowicz1Average yields on long-dated government bonds have reached their highest levels since 2008, h/t @DRBCurtis "The last mile of fighting inflation is a marathon rather than a sprint...there are a lot of upward pressures on rates across the cur
@lizannsondersPPI truck transportation costs of freight soared +8.1% in April … biggest jump on record
@globalmktobserv⚠️THERE WE GO: The 30-year Japanese bond yield is up another +10 basis points, to 3.92%, on track for the highest daily close since its debut in 1999. 40-year JGB yield is up +6 basis points, to 4.16%, on track for the highest weekly clos
@lizannsondersApril PPI final demand services (blue) and goods (orange) both increased at fastest pace since 2022
@lizannsondersMBA mortgage applications rose +1.7% for week ending May 8 … 30y mortgage rate rose to 6.46%
@lizannsondersApril annualized 3-month % change for core PPI advanced +6.7% and remained well above its long-term average