Скачать или смотреть Treasuries Rout Shows Iran Conflict Reigniting Inflation Worry

Inflation is re-emerging as the crucial worry in the $30 trillion Treasuries market as investors see the risk of a protracted conflict in the Mideast that keeps crude prices elevated. For weeks, haven buying was the dominant driver of US government bonds. Treasuries just logged their best month in a year as investors sought shelter from losses in stocks and fretted about mounting tensions between the US and Iran. But on Monday, that flight-to-safety trade evaporated abruptly as the breakout of war in the Middle East over the weekend triggered a surge in oil prices. Investors dumped bonds as climbing crude prices revived concerns over the sticky inflation that big asset managers including BlackRock Inc. and Pimco have been pointing to all along. The result was a complete reversal in sentiment in Treasuries, which slumped the most since October. Yields soared from the lowest levels in months. The two-year yield climbed 10 basis points to 3.48%, while the 10-year rate rose roughly the same amount to 4.03%. Meanwhile, traders pared bets on how deeply the Federal Reserve will lower interest rates this year. Michael Contopoulos, Deputy CIO at Richard Bernstein Advisors, joins Bloomberg Businessweek Daily to discuss. He speaks with Carol Massar and Tim Stenovec.
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