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Government borrowing costs rose across the globe on Thursday, with German bonds resuming the sell-off that sparked the biggest daily jump in yields since the country’s reunification 35 years ago.
Bond prices and yields move in opposite directions, meaning that yields tick higher when the value of the asset declines.
Yields on German government bonds — known as bunds — skyrocketed on Wednesday, with the yield on the 10-year debt instruments adding around 30 basis points. The sell-off came after lawmakers from parties widely expected to form Germany’s next coalition government agreed to plans to reform historic debt policy rules to allow an increase in national defense spending.
German government borrowing costs continued to rise on Thursday across the board. The yield on the 10-year bund, seen as a benchmark…
