(BOB ELLIOTT): The SELLOFF in U.S. Bonds has SPARKED a global DUMP of developed world sovereign debt AND we are ALREADY seeing a RE-PRICING IN GLOBAL EQUITY MARKETS!

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The selloff in US bonds has sparked a global dump of developed world sovereign debt.

Since US yields started rising after the Fed meeting in Sept, global bond yields are higher, while the dollar and gold are surging, reflecting an increasingly global debt contagion.

THREAD…

While many in the US are laser focused on the US yield rise in recent weeks, what is notable is how it looks to be flowing through to global bond markets in a way that is pretty disconnected from their own underlying domestic conditions.

US yields up nearly 70bps since mid-Sept

UK yields have risen in line.

German yields are up despite very weak economic reports.

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