Global bond markets posted sharp moves as sovereign yields climbed: US 10-year Treasury yield rose above 5.02%, the highest since 2007; the 2-year jumped 4.4bps to 4.676%; the 30-year topped 5.4%, its highest since June 2007. In Japan, the 5-year JGB yield hit a record 2.315%; the 10-year rose 4.5bps to 3.03%, the highest since Sept. 1996; the 30-year increased 5.5bps to 4.12%. Other moves: South Korea’s finance minister nominee said he will closely monitor the bond market. The Bank of England i

Global bond markets posted sharp moves as sovereign yields climbed: US 10-year Treasury yield rose above 5.02%, the highest since 2007; the 2-year jumped 4.4bps to 4.676%; the 30-year topped 5.4%, its highest since June 2007. In Japan, the 5-year JGB yield hit a record 2.315%; the 10-year rose 4.5bps to 3.03%, the highest since Sept. 1996; the 30-year increased 5.5bps to 4.12%. Other moves: South Korea’s finance minister nominee said he will closely monitor the bond market. The Bank of England is prepared to stop selling 20- and 30-year gilts. In India, the 5-year yield spiked as much as 13bps and the benchmark 10-year climbed 6bps.