Coaster Week week continues for Global Bonds with Trump’s repercussions

In the middle of the day in London (7 am East time), the return on Two years The Treasury has decreased 8 basis points such as 30 years old Cooling 4 basis points, while 10 years – The economists have suffered from the strongest period of fluctuations for two decades – decreased 9 basis points.

Trump said he was “watching” the bond market – known to be forced by political leaders who are trying to carry out major economic reforms – in his announcement on Wednesday of a tariff stop, describing it as “very difficult” and the recognition “people were receiving little anger.” Through a widespread tariff policy, it is possible to be inflationary, a continuous rise in returns can lead to a mixture of High pricesand High borrowing costs and A much weaker economic growth Or even a recession.

Bond revenue elsewhere is also axis on Thursday, in the middle of the stock market Europe and Asia and the Pacific.

The returns of German bonds were widely higher Take advantage earlier in the week from fleeing to safe havens. Germany Two years The Bond return was the last 13 basis points, such as 10 years 6 basis points.

The United Kingdom, which has been afflicted with investor concerns about its financial outlook, was especially passed in the unrest this week. Return on UK 30 years Bonds, which rose on Wednesday up to 30 basis points and ended about 25 higher basis points to reach the highest closing level since 1998, fell 16 basis points.

“The temporary suspension period for 90 days was sufficient to arrest the sale of the sect at the long end,” Sanjay Raja, the Deutsche Senior Research Bank, told CNBC.

“Similar to what we saw in the United States yesterday, long bonds gather today. This is definitely due to the transformation of market morale on the Trump mutual tariff. Given a temporary stop, the markets are truly assumed that there is a high tape for them on the table.”

One of the reasons for the reflection of the bond market on Thursday is to re -evaluate the regeneration of the path of monetary policy.

“The interest rates (the United States) has increased slightly today, as the latest news from the White House reduced the danger of stagnation,” Higgens told CNBC.

Another reason is that some of the previous sales operations in treasury bonds and dated for a long time may be due to profit, or even fire sales in government bonds by investors investing in shares.

Despite the transformation of feelings, there is still a great insecurity about whether countries are able to cut deals with the United States and how China will respond.

At the same time, given that many modern fluctuations appear to be linked to the stock market, the moves may remain higher than usual, which increases the lack of clarity of the upcoming movements, and Higgins added.

The movements of the bond market were somewhat stable in Asia. Japanese 10- and Two years The revenue was 7 and 5 points higher in a row on Thursday as Investors accumulated in stocks. The return on Australia Two years Bond, a sharp decrease since the first tariff was announced last week, two wicked points rose.

In a note, the Asian fixed income team at Nikko Asset Management said they kept their position that Asian government bonds were in a good position of decent performance, “with the support of the distinguished central banks in an environment of benign inflation and moderate growth.”

“Fears about potential growth shocks of US tariffs are likely to provide additional support for regional bond markets. In addition, with relatively high FX reserves, policy makers are well equipped to defend their currencies if necessary.”