
A sell-off in US Treasuries has sent ripples through markets from gold to currencies, as investors warn that volatility is “l(fā)ocked in” ahead of next month’s presidential election.
US government bonds are on track for one of their worst months in recent years, with 10-year yields moving up almost 0.4 percentage points to 4.2 per cent after strong economic data and an emerging “Trump trade” sent traders scrambling to redraw their expectations of the path of interest rates.
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