Lots More on the Global Selloff in Government Bonds

Odd Lots

Bloomberg

News, Investing, Business, News Commentary, Business News

4.4 • 1.6K Ratings

🗓️ 10 January 2025

⏱️ 26 minutes

🔗️ Recording | iTunes | RSS

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Summary

One of the biggest stories in markets right now is the huge selloff in government bonds. And we're not just talking about the US here. The UK is seeing multi-year highs in long-end yields. So is Japan. And of course, the US 10-year Treasury is close to its highest level in a year, despite the recent rate cuts from the Federal Reserve. So what's going on? Is it just about inflation and growth expectations or is there more to it? On this episode, we speak to Jay Barry, head of global rates strategy at JPMorgan Securities, who breaks it all down and gives us his estimate of where fair value now stands.

Read More: Fed’s Barkin Says Term Premium Moving Long Rates, Not Inflation

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1:04.9	Joe, are we going to spend this episode just arguing about the term premium?
1:09.4	I don't know, like, yeah, maybe.
1:11.7	You know, I've always, like, I've always been sort of, I wouldn't say a term premium
1:15.8	denier, but I'd never totally.
1:17.1	Yes, you are.
1:17.9	Okay.
1:18.4	But like, and I was totally ready to capitulate.
	...

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