Report published September 24, 2026
A Perfect Storm: Where Are the Umbrellas? – RaboResearch Daily Update
Rabobank · September 24, 2026
Global bond yields surged sharply, led by the US 10-year jumping to 5.11%, driven by stronger-than-expected PMI data and ongoing geopolitical tensions. Rabobank warns that rising diesel prices, rearmament pressures, and intense US realpolitik leave little justification for central bank rate cuts.
Read the remaining 4 pages
Finvaulta summarizes Rabobank'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.
Key Takeaways
- 1.Global sovereign bond yields surged across major economies following strong US and Eurozone PMI data, undermining market expectations for central bank rate cuts.
- 2.Energy markets face potential supply friction with reports of the White House considering a 90-day diesel export ban, pushing up diesel prices across Europe, the UK, and Australia.
- 3.Geopolitical fragmentation and US realpolitik are exerting severe pressure on middle powers (e.g., Japan, Canada, Australia) to realign defense, supply chains, and domestic policies with US strategic priorities.
Table of Contents
- Market comment
- Day ahead
Report data
Key figures extracted from this report
| Metric | Estimate | Context |
|---|---|---|
| US 10-Year Yield | 5.11% | Largest one-day rise since 2025's 'liberation day'. |
| Canada 10-Year Yield | 3.95% | Benchmark bond yield. |
| UK 10-Year Gilt Yield | 5.35% | Benchmark bond yield. |
| Australia 10-Year Yield | 5.38% | Benchmark bond yield. |
| Germany 10-Year Bund Yield | 3.55% | Benchmark bond yield. |
Reports in this series
Global Daily is shown in chronological order through this edition, published on September 24, 2026.
Part of the Global Daily series — view all 18 editions
Looking for the latest edition? global daily war er for longer (Oct 6, 2026)
Access the full report
And others from the leading tier 1 banks.
Free account: read previews and a daily allowance of full reports. Pro removes the daily limit.