Bonds in $916 Billion Wipeout Spark Fear of Worst Run Since 1976
- Rate lift-off clobbers global index in echo of Trump election
- Duration risk hits high-grade debt; ETF investors flee junk
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Global bonds are hitting fresh milestones of misery.
Strong U.S. data, a tighter-than-expected monetary trajectory, rising commodity prices and brewing wage pressures are conspiring to push Treasury yields to cycle-highs, hitting money managers of all stripes.