Bond markets fear Trump victory means the end of low interest rate era

A record $1.2 trillion was wiped off the value of global bond markets after Donald Trump's election

15th November, 2016
FRANKFURT AM MAIN, GERMANY - JUNE 29: A trader looks at computer screens as the day's performance graph showed a sharp drop of the German DAX stock market index early today and a partial recovery later on the day after the European Central Bank announced it would not extend emergency funding to Greece on June 29, 2015 in Frankfurt, Germany. Meanwhile the Greek government ordered cash machines turned off and a tightening on the flow of capital in an effort to staunch citizens' withdrawals. (Photo by Thomas Lohnes/Getty Images)

The news prompted a sell-off in global bonds that put them on track for their worst month since 2003, sending yields on US 30-year bonds above three per cent for the first time since January. In Dublin, government bond yields hit their highest level in nine months with the yield on the 10-year government bond moving above one per cent, well above the 0.7 per cent level at which it was trading early last week,...

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