Global bond yields continue to grind higher – Scotiabank

FXStreet (Barcelona) - Camilla Sutton CFA, CMT, Chief FX Strategist at Scotiabank, notes position squaring has led global bond yields to continue to climb higher.

Key Quotes

“Global bond yields continue to move higher, with German and U.S. 10yr yields at five months highs, facing the impact of major position squaring that kicked off with a fundamental shift several weeks ago. This is the same theme that markets have been struggling with for weeks; likely partially aggravated by Chair Yellen’s recognition that the long end is still low. This is then rippling across other markets.”