1 week Ago By Jeremy Warner
THREE KEY POINTS: Donald Trump’s actions are destabilising global financial markets, causing a sell-off in US Treasuries. US Treasury bonds are being sold off , causing 10-year yields to briefly hit 4.5%.
The loss of confidence in US creditworthiness is seen as a major shift in the global order. Markets are losing faith in America as the underwriter of the global financial order. When madness strikes, it tends to take multiple different forms.
It is that sense of the centre no longer holding, of the old order of things breaking down across the board that explains the way attention in financial markets is shifting away from the insanity of Trump’s tariff wars to the multitrillion-dollar market in US Treasuries. Whether it be trade, the economy, the geopolitical status quo or domestic governance, Trump is demolishing accepted norms, unleashing havoc on the world stage..
