As traders head into the final leg of 2025 they are not doing so with overconfidence. In fact, if this week’s bond market is anything to go by, they’re nervous.
U.S. 30-year Treasuries will open a breath away from 5% today, one of their highest levels this year, following a sharp uptick since the end of last month. While yields pushing higher is one sign of a selloff, another is trading activity. That too has ticked up, increasing approximately 19% year on year at the end of August, according to securities experts SIFMA.
But the upset isn’t confined to America alone. In Europe, French government bonds—obligations assimilables du Trésor or OATs—similarly spiked toward a 5% yield and sit at 4.49% at the time of writing, marking its highest run since 2009.
The U.K. is arguably feeling the sharpest end of the issue, with 30-year gilts pushing above 5.7%, their highest level since the spring of 1998.
Meanwhile, gold, the safe haven asset in times of economic upheaval, has hit a record price of $3,537.
