Investing.com - The global sell-off in bond markets resumed on Tuesday, as yields spiked on 10-year notes in Germany, Italy and Spain, amid easing concerns over deflation risks.
Yields on German 10-Year Bunds surged 10.2 basis points, or 17.03%, to hit 0.701% during European morning hours, after rising to an intraday high of 0.713%.
The 10-year German government bond yield hit an all-time low of 0.048% on April 17, before moving higher as deflation fears eased amid recovering oil prices and following the introduction of the European Central Bank's massive quantitative easing program.
Meanwhile, the yield on Italian 10-Year bonds rose 11.3 basis points, or 6.44%, to hit 1.867%, while Spain's 10-Year yield jumped 8.3 basis points, or 4.72%, to 1.819%.
In the U.S., the yield on 10-Year Treasurys advanced 5.3 basis points, or 2.35%, to hit 2.325%, the highest level since December 8.
Meanwhile, the euro was up 0.9% to trade at 1.1256 against the U.S. dollar. The dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was down 0.7% to hit 94.45, moving off the previous day's high of 95.33.
Elsewhere, European stock markets were under heavy selling pressure. Germany's DAX tumbled 2.4%, the EURO STOXX 50 dropped 2.2%, France's CAC 40 lost 2.1% while London’s FTSE 100 slumped 1.95%.
Across the Atlantic, U.S. stock futures pointed to a lower open. The Dow futures pointed to a drop of 0.75%, the S&P 500 futures shed 0.7%, while the Nasdaq 100 futures slumped 0.8%.
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Global bond sell-off resumes as German 10-year yields spike
Published 05/12/2015, 05:29 AM
Global bond sell-off resumes as German 10-year yields spike
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