Category: Fixed Income
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The Treasury Becomes a Buyer: $6 Billion Bond Buybacks Meet a Three-Year Yield High
The US Treasury tripled its long-end buybacks to $6 billion per operation as the 10-year yield hit its highest since October 2023. Why the intervention is not QE, what broke the long end, and the contradiction of a Fed that may hike into it.
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The Global Bond Selloff: Four Markets at Multidecade Highs and a $4 Billion Answer
Four sovereign bond markets set multidecade yield records in one week: 30-year Treasuries at 5.34 per cent, gilts at 1998 highs, JGBs at 1996 highs. Inside the global bond selloff, the record July deficit behind it, and the Treasury’s $4 billion buyback answer.
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Credit Spreads at Record Tights: The 74 Basis Point Question
US investment grade spreads sit at 74 basis points, the first percentile of twenty years, in a summer of oil war and hike debates. Inside the yield illusion doing the buying, and what the tightest credit market in a generation is not pricing.
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UK Gilt Yields Above 5%: The Bond Market Greets Prime Minister Burnham
Andy Burnham became the UK’s seventh prime minister in a decade and the 10-year gilt moved back above 5 per cent within hours. Inside the term premium, the VAT signal, and what would calm the long end.
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The UK Gilt Market and Starmer’s Resignation: Pricing a Change in Westminster
A prime minister resigned and the gilt market barely moved. Inside the slow repricing of UK fiscal credibility: 1998-era long yields, a split Bank of England, and the questions that will decide the autumn.
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The Synchronised Sovereign Rout: When Japan, UK and US Long Bonds Break Together
Khan Capitals | May 2026 Key Takeaways A Synchronised Sovereign Bond Rout, Not a Local Episode For professional fixed-income desks, the most striking feature of the week ending 22 May 2026 was not the magnitude of any single yield move, but their co-movement. Within five trading sessions, the 30-year Japanese government bond, the 30-year UK…
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10-Year Treasury Hits 5%: Bond Vigilantes Return
The 10-year Treasury yield hits 5% for the first time since 2007 as fiscal deficits, retreating foreign buyers, and the return of the term premium produce the most severe bond bear market in a generation. Why 5% is both a threat and a generational opportunity.
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The Global Bond Bear Market: Worst Year for Fixed Income in Centuries
The worst year for bonds in at least 250 years erases $10 trillion in value, breaks the 60/40 portfolio, and ends the assumption that government bonds are safe assets. Why the four-decade bond bull market is over and what replaces it.
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The Yield Curve Inversion: The Bond Market’s Most Reliable Recession Warning
Khan Capital | March 2019 Key Takeaways Part of: Rates, Bonds & the Macro Picture – Khan Capital’s hub on rates, bonds and the macro picture. The Yield Curve Inversion: The Bond Market’s Recession Warning On Friday, 22 March 2019, a number that most Americans had never heard of quietly crossed zero and became the…