Bond markets functioning in orderly manner, IMF says

Global ​bond markets are functioning ​in an ‌orderly fashion, ​the International Monetary Fund said on Thursday, following the ‌recent sharp rise in yields that have driven world borrowing costs to their highest ‌levels in decades. "What we see globally is ‌that bond markets are continuing to function in an orderly manner," IMF spokesperson Julie Kozack told reporters ⁠during ​a press ⁠conference.

The 10-year US Treasury yield, the yardstick for global ⁠borrowing costs and asset prices, rose as ​high as 5.34% on Thursday, reaching its ⁠highest point since 2002. It also posted its biggest ⁠quarterly ​rise this century in the three months to September, with the selling ⁠pressure also pulsing through other major countries' markets ⁠from ⁠France and Britain in Europe to Japan in Asia.