Bonds sell-off resumes after Biden vows to accelerate vaccinations

Bonds sell-off resumes after Biden vows to accelerate vaccinations

Government bond markets suffered a fresh round of selling on Friday, halting a rally in tech stocks, after President Joe Biden said the US aimed to make vaccinations available to every adult by the start of May.

The yield on 10-year US Treasuries jumped to 1.63 per cent, breaking through the 13-month high struck during a choppy session a week ago.

Following the bond sell-off, Wall Street’s Nasdaq Composite retreated 1.5 per cent as tech rally that had powered US indices to record highs this week careened off course. The blue-chip S&P 500 fell back from its all-time high, sliding 0.4 per cent during morning trading in New York.

In Europe, the region-wide Stoxx 600 slid…

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