Sovereign bond yields have been rising sharply around the world, driven by growing concerns over US President Donald Trump’s economic policies and an increasingly uncertain global outlook. In less than a month, the yield on ten-year Treasuries jumped by 50 basis points to 4.6%. And in May alone, the 30-year Treasury rate rose by 30 basis points, briefly topping 5%.At least four key factors are driving this upward trend: weakening long-term government credibility; growing doubts about the effectiveness of current US policies; deepening domestic and international political uncertainty; and sentiment-fueled market volatility.
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