Value starts to emerge in US bond market

After a strong run earlier in the year, global bond markets seem to have lost steam in recent weeks....

After a strong run earlier in the year, global bond markets seem to have lost steam in recent weeks. A surge of strength in Gilts during August, with long-dated Gilts finding good support from pension fund demand, was followed by weakness as inflation data came in above expectations in many of the major markets. Add in concern about the announced change of leadership at the Fed, and sentiment in bond markets has lately turned decidedly cool. As a result, Treasuries have sold off quite sharply recently, with the yield on the 10-year Treasury in particular re-touching levels last seen in M...