Marcus Wong

Philippine sovereign bonds are extending a selloff as traders price in the prospect of a 50-basis-point rate hike, the largest since 2023.

The emerging-market carry trade has bounced back from its Iran war losses as surging crude oil prices reinforce expectations that interest rates will stay elevated and bolster the currencies of commodity exporters.

Traders are generally more positive about the rand due to the outlook for monetary policy tightening. By Marcus Wong and Masaki Kondo, Bloomberg

Bond traders are zeroing in on 5.5% as the new “round number” for 30-year US Treasury yields as inflation concerns ripple across markets, according to Citigroup Inc.

An den Anleihemärkten richtet sich der Fokus laut Citigroup zunehmend auf die Marke von 5,5% als neue “runde Zahl” bei den Renditen 30-jähriger US-Staatsanleihen. Hintergrund sind anhaltende Inflationssorgen, die die globalen Märkte belasten.

(Bloomberg) -- The emerging-market carry trade has bounced back from its Iran war losses as surging crude oil prices reinforce expectations that interest rates will stay elevated and bolster the currencies of commodity exporters. Most Read from BloombergUS and Iran Far From Deal as Bond Rout Piles Pressure on TrumpWinners and Losers From Trump and Xi’s Beijing Summit TalksHormuz Oil Flows Creep Higher as More Supertankers ExitUS, Iran Stall on Hormuz Reopening as Oil Supplies TightenBillionaire

The Iran war is piling pressure on emerging Asian markets, pushing some currencies and bond yields toward levels once considered unlikely.

The yield gap between short- and long-dated bonds in several Southeast Asian countries may widen further, as elevated oil prices increase inflationary pressures and deepen fiscal strains.

May 26th, 2026 Another instalment in my photos from ten years ago series – this time it is May 2016. Level crossing removals (and additions!)

Asian central banks are turning to ever more aggressive interest-rate hikes to shore up currencies, though there are few signs of success.