Bond yields tighten on rate fears

The world's leading bond markets continued to tighten on 13 June, with benchmark yields reaching multi-year highs as the market responds to the threat of rising interest rates from central banks around the world.

Yields on government bonds in the eurozone, the UK and the US all soared to fresh multi-year highs on Wednesday, continuing the rise earlier in the week. European and American yields are now at their highest level in five year, while British yields are at nine-year highs.

The sell-off