Current bond-market selloff worse than ‘taper tantrum’

The vicious surge in bond yields over the past few weeks is drawing comparisons to bond-market selloffs of similar magnitude, most notably the ‘taper tantrum’ of 2013, but analysts say this analogy falls short in one crucial measure.

The “guts” of the recent selloff was different because higher bond yields were a result of panicked market participants demanding higher interest rates in longer-dated bonds to offset the risk of growth and inflation. 

In contrast, previous bond-market tantrums were driven by expectations around interest rates and the Federal Reserve’s policy.

Bloomberg 26 February 2021

https://www.marketwatch.com/story/current-bond-market-selloff-worse-than-taper-tantrum-in-one-key-way-argues-analyst-11614357162

Maria Landeborn, börsanalytiker på Danske Bank, håller med. Hon ser ränteuppgången som ett tecken på att marknaden ser positivt på framtiden. Räntorna brukar ju att stiga när ekonomin går bättre och vice versa. 

– I grund och botten handlar det om ljusare utsikter och det är ju positivt, säger Maria Landeborn.

https://www.svd.se/borsen-skakas-av-oro--darfor-faller-techbolagen