The topic of rising long end bond yields does not seem to pass any time soon. The perfect storm could become even worse with weaker USD-liquidity in the coming months. As the charts below indicate, it seems like most long end bond yields in major currencies are on the rise. It seems to be a rather large set of reasons behind this sell-off. Most countries have large deficits to fund already and/or are about to see them rise. Demographics turn super savers into super consumers, and changes to pension schemes like in the Netherlands amplify the lower demand for long end bonds. A factor here could of course also be that ... (full story)