US President Donald Trump’s pause on trade tariffs failed to stem a historic retreat of global investors from the United States bond market, foreshadowing further falls in asset prices and rising borrowing costs across the world including Australia.
The closely tracked US 10-year government bond rate edged higher towards 4.5 per cent on Friday during another Asian trading session in which investors offloaded US Treasury bonds and US dollar assets, a clear sign that markets were questioning the safety of the world superpower.
Jonathan Shapiro writes about banking and finance, specialising in hedge funds, corporate debt, private equity and investment banking. He is based in Sydney. Connect with Jonathan on Twitter. Email Jonathan at jonathan.shapiro@afr.com
