Three bond markets on three continents are breaking at the same time.
US: The 30-year yield is at 5.085%. The 20-year at 5.092%. The 10-year at 4.538%. Every maturity rising together. The government ...
The synchronization suggests a global loss of confidence in sovereign debt sustainability rather than isolated regional issues. When three major bond markets break simultaneously despite different local catalysts, it points to a structural shift in how markets price sovereign risk in a world where central banks have exhausted their traditional tools.
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