Global bond yields on the canvas — Turkey’s lira on the ropes
US 10-year yields hit 15-month lows, as Turkey's lira slumps 5% and sterling slides as Brexit votes go nowhere
London — Global bond yields continued to spiral lower on Thursday as recession fears fed expectations of more policy easing by major central banks, while Turkey’s lira took a 5% beating as pressure ratcheted up on its volatile markets again. Europe and Asia’s top share markets did manage to steady, but with the end of what has been a roller-coaster first quarter of the year for traders there was plenty to try and keep track of. Sterling was hit by a bout of Brexit blues after a round of votes in the UK parliament failed to produce any clarity or new plan to manage its divorce from the EU. A Reuters report that the US and China had made progress in all areas in trade talks seemed to bolster sentiment a little, though sticking points still remained and there was no definite timetable for a deal. Early European moves saw London’s FTSE climb 0.75% and Frankfurt and Paris both add 0.4%, after a 1.6% tumble in Tokyo overnight had been offset by much of the rest of Asia-Pacific nudging hig...
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