US Treasury sell-off fears continue to spread: South Korean stock market triggered a circuit breaker, gold loses $4,500

Odaily Planet Daily News After the 30-year US Treasury yield broke through the 20-year high of 5%, selling panic continued to spread on Monday. The 10-year Japanese government bond yield soared to 2.8%, a 30-year high; the South Korean stock market plunged during trading, triggering a circuit breaker; gold lost $4,500.

Investors said the key is that as long as the standoff in the Middle East continues to block oil flow through the vital Strait of Hormuz, the pressure on bonds will persist. Priya Misra, a portfolio manager at JPMorgan Asset Management, said: "This price action is worrying for two reasons: long-term interest rates are rising globally, they tend to influence each other, and the prospect of the Federal Reserve raising interest rates is entering the market narrative." (Jin Shi)