SINGAPORE (Jan 22): Even as equity markets across the world soar to new heights, the bond market has been sending a less exuberant signal. Yields on US 10-year Treasuries, a major benchmark rate used in financial markets, have risen to just above 2.5%, almost twice the yield when they reached a trough in the middle of 2016. Similarly, in Europe, the German “bund” yield is at its highest level in about two years. Shorter tenure yields have also risen — the two-year US Treasury bill is now yielding around 2%, its highest level since the financial crisis erupted in 2008.

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