Government bond markets suffered a fresh spate of volatility on Friday, hitting Nasdaq futures, after president Joe Biden said the US aimed to make vaccinations available to every adult by the start of May. The yield on 10-year US Treasuries rose above 1.6 per cent, up sharply from around 1.54 per cent on Thursday, as investors sold the debt. Bond markets have endured volatility in recent weeks over the prospect that a swift US economic recovery would increase inflation, which erodes the value of bond’s interest payment. The jitters in bond markets have spilled over into stocks. On Thursday, Mr Biden signed the $1.9 trillion (€1.6 trillion) stimulus bill into law and the European Central Bank pledged to increase the pace of its bond-buying programme.

Source: The Irish Times March 12, 2021 11:10 UTC