News Summary

• The u.s. Treasury long bond yield has hit ‌its highest level since before the Great Financial Crisis in 2007.
• Japan’s long-dated government yields spiralled to record highs on Monday.
• European yields are at their highest levels, variously, in 15 to 20 years.
• Britain is seeing its highest long-term borrowing costs since the 1990s.
• Interest rate rises are expected in Europe and Japan next month, with a more than 50% chance the Fed will follow by year-end.