Our Scans · (FS.5.01) Bond Market · Weekly Summary

• [New] Long-end bond markets reflect fears of larger fiscal packages: the 30-year JGB yield reached a record near 3.345%, roughly 1 percentage point higher than at the start of the year, even though no new spending has yet been enacted, indicating expectations of more debt supply are priced in. Stock Market Update
• [New] Both gold and the long bond yield can be expected to be rising in synchrony subsequent to their respective corrections: A rising long bond yield tells us that markets are pricing in greater investment risk for buyers of US treasury debt. Asset Strategies International
• A hawkish surprise, like signalling a pause, could spark a bond yield spike and equity sell-off; conversely, hints at further rate cuts (aligning with the Fed's latest dot-plot) might fuel a risk-on rally. investing.com
• In regions such as Thailand and the Philippines, tokenized bond programs have encouraged small-scale participation through fractional investment opportunities. Electro IQ
• The Public Investment Fund of Saudi Arabia, which manages $1 trillion, plans to issue its first euro-denominated green bond. Winssolutions
• The Swiss Re Global Cat Bond Index has returned 2.77% year-to-date, reflecting strong demand for uncorrelated, high-yield opportunities. Ainvest
• A contraction in U.S. service providers and slower hiring rates sent bond yields lower across the U.S. curve, while swap traders now anticipate two Fed moves by year-end, with the first cut likely in October. Minichart
• Mexico's 10-year bond yield has fallen, signaling a lower perception of risk among international investors. Beyond Borders Gazette
• Bond yields have dipped accordingly, with the 10-year Treasury note yielding around 3.7%, creating opportunities for fixed-income investors seeking yield in a low-rate environment. WebProNews
• Investor Pause on Tariffs / Elections: 50% U.S. tariffs and 2026 election uncertainty delay investments despite 25% M&A rise and bond demand; CNI's Washington push seeks tariff relief to protect jobs and $20 B exports. The Rio Times
• Stock, bond, currency and commodity prices could become more volatile, further slowing the global economy. Desjardins.com
• Eu's smart conditionality threatens to freeze recovery funds, pushing Hungary's 2025 deficit to 1% and widening bond yield spreads by 200 basis points. Ainvest
• Elevated US policy uncertainty and/or a widening of government bond yield spreads in the euro area periphery are additional upside risks. Morningstar, Inc.
• All eyes will be on the most important price in markets, the 10-year US government bond yield. Asset Strategies International
• Ongoing monitoring of default rates and issuer-specific factors will be essential for pension funds evaluating US high yield bond opportunities as spreads are historically tight. AXA IM UK
• Ongoing monitoring of default rates and issuer-specific factors will be essential for pensions evaluating U.S. high yield bond opportunities as spreads are historically tight. AXA IM US

Last updated: 11 November 2025