"In U.S. markets, which we take our cue from, the sell-offs are reflecting an ongoing assessment of inflation threats and what the Fed is going to do about it," said Rob Carnell, chief economist at ING in Singapore.
"At the same time, in the last 24 hours, markets have responded cautiously positively to events in Ukraine, with Russia refocusing away from Kyiv, but things are still looking quite uncertain."Two-year Treasury yields , which track policy expectations, were last at 2.2922% and have climbed more than 150 basis points for the quarter - the steepest such rise since 1984 on expectations of quick-fire interest rate hikes.
The yield on the 10-year Treasury note , which is more sensitive to the outlook for long-term growth, was last at 2.3378% after hitting 2.56% on Monday, the highest since May 2019. Inflation continues to squeeze governments and central banks around the world. Germany registered a whopping 7.6% inflation rate on Wednesday, sending its 2-year bond yield into positive territory for the first time since 2014.Register now for FREE unlimited access to Reuters.com
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