Grön öppning 5 oktober
A sell-off in global bond markets has pushed borrowing costs to their highest levels in a decade or more.
That means potentially heavy losses for banks, insurers, pension funds and asset managers that own trillions of dollars of sovereign and corporate debt after loading up in recent years.
Paper losses on the most opaque part of US banks’ bond portfolios are now close to $400bn
Most banks, and in particular the largest ones, will not have to sell and so will never realise those losses. But
FT 5 October 2023
The rout in Treasuries
has sent shockwaves through the global bond market in recent months as investors position for borrowing costs to stay higher for longer.
Bloomberg 5 October 2023
Five lessons from today’s bond market turmoil
There are echoes of 2007: an interconnected system is highly exposed to what is happening in a murky corner of finance
Gillian Tett Financial Times 5 October 2023
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