Interest rate sensitive short-term US bonds and their global peers fell sharply. Two-year US Treasury yields rose 5 basis points to 4.91%, while German and UK yields rose 5 basis points to 3.33% and 4.89%, respectively, during the same period. Japan and Australia also showed similar trends. The global bond market is experiencing a wave of sell-offs as rising energy prices are likely to drive up inflation. In the US, this trend was further exacerbated by a surge in business activity, concerns about the level of government debt, and the prospect of interest rate hikes. Last week, 10-year US Treasury yields rose to their highest level since 2007.

Interest rate sensitive short-term US bonds and their global peers fell sharply. Two-year US Treasury yields rose 5 basis points to 4.91%, while German and UK yields rose 5 basis points to 3.33% and 4.89%, respectively, during the same period. Japan and Australia also showed similar trends. The global bond market is experiencing a wave of sell-offs as rising energy prices are likely to drive up inflation. In the US, this trend was further exacerbated by a surge in business activity, concerns about the level of government debt, and the prospect of interest rate hikes. Last week, 10-year US Treasury yields rose to their highest level since 2007.