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Triple Shock: US Yields at 5.12%, Won at 1,508, Oil $85

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Triple Shock Hits Global Markets: US 30-Year Yield at 5.129%, Won at 1,508, Brent at $110 Global financial markets absorbed a simultaneous triple shock on May 19. The US 30-year Treasury yield punched through 5.129%, a level not seen since 2005 — roughly two decades. The 10-year US Treasury hit 4.63%, its highest since October 2023. Japan's 10-year JGB reached 1.37% for the first time since 2011. UK 30-year gilts traded at 28-year highs. Korea's own 10-year government bond yield climbed to 4.239%, a two-and-a-half-year peak. This synchronized global bond sell-off is the most severe since the 2022 UK pension crisis, and it has not happened in isolation. The won hit 1,508 per dollar. Brent crude crossed $110 per barrel. Three blows, landing at the same time. Middle East War Is the Fuse Behind Everything The root cause threading through all three shocks is the prolonged Middle East conflict. Eight rounds of Iran-US ceasefire negotiations have come and gone without agre...

Triple Shock: US Yields at 5.129%, Won Breaks 1,508

Triple Shock Hits Global Markets: US 30-Year Yield Hits 5.129%, Won Breaks 1,508, Brent Crude Surges Past $110 There is no single story driving markets right now. There are three, all hitting at once, and the interaction between them is the problem. The US 30-year Treasury yield touched 5.129% on May 19 — it hasn't been this high since 2005. Brent crude crossed $110 a barrel. The Korean won slumped to 1,508 per dollar. None of these things would be easy to handle in isolation. Together, they are forcing a reckoning across global financial markets. The US 10-year sits at 4.63%, its highest since October 2023. Japan's 10-year JGB is at 1.37% — haven't seen that since 2011. The UK 30-year gilt is at a 28-year high. Korea's own 10-year government bond yields 4.239%, a two-and-a-half-year peak. Bond markets across the developed world are selling off simultaneously. The last time we saw anything like this coordinated move was the UK LDI crisis in 2022, and even that ...