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The Treasury bond market sell-off marks one of the worst crashes in history.
High yields are hitting stocks, but other assets across financial markets are also reeling.
Commodities, crypto, housing and foreign currencies have been slumping too.
Traders have been dropping long-duration US bonds in one of the worst collapses in market history, sending yields soaring towards levels not seen in decades.
As growing yields have made bonds increasingly more attractive to investors, both the benchmark S&P 500 and Nasdaq have dropped around 7% since the end of July.
But stocks are just one piece of the puzzle, and the consequences of soaring yields have become clearer for investors across financial markets.
Dollar boom, crypto bust
High-yielding Treasurys accelerate foreign demand for the US dollar, which has jumped 7% since mid-July. In that span it has pushed foreign currencies to structural lows, UBS wrote in a note Wednesday. For instance, the yen has dropped…
2023-10-08 15:15:01
Original from finance.yahoo.com
