Show Notes
Global bond yields have been rising sharply, with long-term yields breaking higher across multiple markets - pushing US 30‑year yields above 5%. The sell-off was initially triggered by energy-linked inflation resulting from the Iran war, but increasingly reflects a broader, cross‑market re-pricing, with fiscal pressures, shifting rate expectations and signs of bear‑flattening emerging in key markets. In this episode of the Barclays Brief, Lucile Flight, Managing Director in Rates Trading, joins Patrick Coffey to examine what’s driving the move in different regions – from political uncertainty shaping UK gilts to changing views on neutral rates in the US and a dialled-back ECB response in Europe. They discuss what could bring yields down again and where investors are seeing the most compelling opportunities across global rates. Listeners can hear more on this topic: Inflation crosscurrents: Energy vs AI European rates: Inflation & AI waves collide
Clients can read more on Barclays Live: Thinking Macro: No saving grace Federal Reserve Commentary: What would trigger a 2026 Fed hike? United Kingdom Outlook: What a week... Global Economics Weekly: Leaders meet and bonds shriek
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