Global long-term government bond yields spike amid renewed concerns over fiscal sustainability. This has put pressure on equities, which declined broadly – though certain sectors held up better, including luxury stocks. In the US, both major indices ended the session lower, though they recovered somewhat from their intraday lows. Meanwhile, gold emerged as a key beneficiary, climbing to new all-time highs as investorssought safe-haven assets. Alphabet and Apple shares surged in extended trading following a favourable court ruling. Joining us today is Dario Messi, Head of Fixed Income Research, and he explains why he isn’t overly alarmed by the rise in long-end yields.
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