Sunrise Market Commentary

Global bond markets remain under pressure with yields at multi-year highs despite a slight pause in selling, while geopolitical tensions in the Middle East drive oil volatility.

Key Takeaways

• 1.Global bond yields remain at or near multi-year or record highs, with the Japanese 30-year yield hitting its highest level since the tenor's launch.
• 2.The US private credit default rate rose to 6% in April, the highest since Fitch Ratings began tracking the metric in 2024.
• 3.Japanese Q1 GDP growth exceeded expectations at 0.5% QoQ (2.1% annualized), though the report is considered outdated as it precedes the full Middle East conflict impact.

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