Global bond sell-off accelerates

The bond market sell-off continues around the world with the benchmark yield rising in the UK, Germany, Japan and the U.S. The 10-year yield is now at its highest level since April 2024. The Chinese economy is struggling against deflation with CPI data plunging to a 5-month low in December. Manufacturing prices remain in deflationary territory for the 27th-straight month. President Biden is reportedly due to sign off on a final round of A.I. chip export restrictions ahead of the Trump presidency in 11 days’ time in a bid to coerce allies to align themselves with U.S. standards in the sector. And in Los Angeles, wildfires have now spread into the iconic Hollywood Hills. President Biden has declared a major disaster. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.