Multi-Asset Strategy Daily

Latest edition · September 2, 2026

Strategy Daily

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.

Global fixed income markets are experiencing a broad-based sell-off led by the long end, with 10Y US Treasury yields topping 4.75% and 10Y Bunds rising above 3.30%. Geopolitical tensions involving the US and Iran have sustained Brent oil above $90/bbl, elevating inflation concerns. As UK Gilts prepare for a bearish catch-up following higher shop-price inflation, JGB yields also climbed 4.5-5.5 bp and USD/JPY approached 160. Investor focus now turns to upcoming US JOLTS, ISM manufacturing, and NFP prints to see if aggregate demand remains strong enough to justify additional Fed tightening.

Key takeaways from the latest edition

• 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.

What this series covers

• USD
• EUR
• GBP
• JPY
• Important Information
• Disclaimer

Edition archive

• Strategy Daily

  September 2, 2026

• Strategy Daily

  August 27, 2026

• Strategy Daily

  August 26, 2026

• Strategy Daily

  August 17, 2026