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

Odaily Planet Daily News After the 30-year U.S. Treasury yield broke through the 5% mark, a two-decade high, the sell-off panic continued to spread on Monday. Japan's 10-year government bond yield surged to 2.8%, a 30-year high; South Korean stocks plummeted during the session, triggering a circuit breaker; gold fell below $4,500.

Investors said the key is that as long as the confrontation in the Middle East continues to block the flow of oil 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 affect each other, while the prospect of Fed rate hikes is entering the market narrative." (Jin Shi)