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Bond-market sell-off unlikely to gather more momentum

The yields of most 10-year developed market government bonds have fallen back a bit today. But the bigger picture is that they have risen over the past month, continuing an upward trend that started in September, as investors have progressively become less dovish on the prospects for monetary policy in most economies. Looking ahead, we generally don’t expect big moves in yields either directions. But we do expect to see some variation in performance given the outlook for monetary policy.
Simona Gambarini Markets Economist
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