Global bond investors shift focus to Australia and Europe as Fed inflation doubts grow

Bond investors, unsure about Fed policy outlook, hedge against US rate shock

Investors hedging 10-year swap spikes to 6% via swaptions; options market signals shifted from volatility-selling to protection amid Fed uncertainty under Chair Warsh. Tech managers should watch: inflation and debt may keep borrowing costs elevated regardless of Fed moves, pressuring startup valuations and funding.