Multi-Asset Strategy Daily

Global bond yields are testing higher levels as geopolitical tensions and low oil inventories sustain inflation concerns. Markets are now pricing in a June rate hike from the Bank of Japan.

Key Takeaways

• 1.Global bond markets remain vulnerable to higher yields as geopolitical risks in the Middle East sustain an inflation premium.
• 2.The Bank of Japan (BoJ) is expected to hike rates in June, shifting from a previous more patient stance.
• 3.European and UK bond yields are being driven primarily by global energy shocks rather than domestic fundamentals.

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• JPY
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