U.S. Treasury sell-off panic continues to spread: South Korean stocks trigger circuit breaker, gold loses $4,500

Odaily Planet Daily News After the 30-year U.S. Treasury yield breached the 20-year high of 5%, the sell-off panic continued to spread on Monday. The 10-year Japanese government bond yield surged to 2.8%, hitting a 30-year high; South Korean stocks plunged sharply during trading, triggering a circuit breaker; gold lost the $4,500 mark.

Investors say the key is that as long as the confrontation 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 J.P. Morgan Asset Management, said: "This price action is worrying for two reasons: long-term interest rates are rising globally and they tend to influence each other, while the prospect of a Fed rate hike is entering the market narrative." (Jin Shi)