GLOBAL - Ten-year government bond yields have been surging across the board since early November, according to AXA Investment Managers, jumping to 5.1% from 4.2% in the US, to 5% from 4.4% in the UK, and to 4.9% from 4.3% in Germany.
They have even crept up in Japan, to 1.3% from 1.2%. Meanwhile, the US yield curve has steepened, with a spread of about 200bp between 2-year and 10-year notes, versus approximately 110bp at the be...
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