UST sell-off panic continues to spread: Korean stock market triggers circuit breaker, gold loses $4,500 mark

Odaily Planet Daily reports that after the 30-year U.S. Treasury yield surged past the 20-year high of 5%, the sell-off panic continued to spread on Monday. The yield on the 10-year Japanese government bond soared to 2.8%, hitting a 30-year high; stocks in South Korea plunged sharply, triggering a circuit breaker; and gold slipped below $4,500.

Investors believe the key is that as long as the confrontation in the Middle East continues to disrupt oil flows through the crucial Strait of Hormuz, the pressure on bonds will persist. Priya Misra, a portfolio manager at JPMorgan Asset Management, stated: "This price action is concerning for two reasons: long-term interest rates are rising globally and tend to influence each other, and the prospect of Fed rate hikes is entering the market narrative." (Jin Shi)