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US Bond Yields Near Two-Decade High Open Rift Among Investors
A surge in longer-maturity US Treasury yields is testing the resolve of global bond investors torn between the possibility of locking in the rates near the highest levels in decades and the risk of an even greater selloff. With Treasury 30-year yields a whisker away from the highest since 2007, a team at Goldman Sachs Group Inc. sees some emerging measures of value but urges caution. Barclays Plc and Citigroup Inc. strategists are warning clients they may breach 5.5%, levels last seen in 2004. The head of BlackRock’s research unit is recommending investors reduce their exposure to developed-market government bonds ... (full story)