Report published September 2, 2026
Mizuho Multi-Asset Strategy Daily: Global Duration Sell-Off & Energy Inflation Spillover
Source and citation context
- Issuer
- Mizuho Securities
- Report date
- September 2, 2026
- Analysis as of
- Not stated in source
Authors / editors: Evelyne Gomez (Multi-Asset Strategist)
Finvaulta summarizes Mizuho Securities's analysis. Attribute opinions, forecasts, time-sensitive values, and chronology to the issuer and report date; do not treat this page as an independent verification or a current market-data source.
Global sovereign bond yields are moving sharply higher led by long-end duration sell-offs in US Treasuries and European Bunds as Brent crude holds above $90/bbl. Markets are heavily pricing near-term central bank hawkishness ahead of key US labor and manufacturing data.
Key Takeaways
- 1.US Treasury yields extended their sell-off led by the long end (10Y breaking 4.75%), with rate markets pricing nearly 70% odds of a September hike amidst persistent oil-driven inflation risks.
- 2.European Bunds sold off despite softer German inflation as energy prices and rising September supply dominate market attention.
- 3.UK Gilts face a bearish catch-up to the global duration sell-off as UK shop-price inflation hit a two-year high.
Table of Contents
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Report data
Key figures extracted from this report
| Metric | Estimate | Context |
|---|---|---|
| 10-Year US Treasury Yield | 4.75% | 10Y UST yield broke above 4.75% during a long-end led sell-off. |
| 5-Year US Treasury Yield | 4.50% | 5Y US Treasury yields reached 4.50%. |
| Fed September Hike Pricing Probability | 70% | Market pricing probability for a Fed rate hike in September. |
| Total Fed Rate Hike Pricing through mid-2027 | 60 bps | Total rate hikes priced in US money markets through mid-2027. |
| Brent Crude Price | 90 $/bbl | Brent crude price holding above $90/barrel following Middle East strikes. |
Reports in this series
Multi-Asset Strategy Daily is shown in chronological order through this edition, published on September 2, 2026.
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Authors / Editors
Reported Data Context
- 10-Year US Treasury Yield: 4.75 % (Current)
- 5-Year US Treasury Yield: 4.50 % (Current)
- Fed September Hike Pricing Probability: 70 % (September)
- Total Fed Rate Hike Pricing through mid-2027: 60 bps (Through mid-2027)
- Brent Crude Price: 90 $/bbl (Current)
Securities
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