Fixed-point Observation: 5-year government bond yields by country

Last week's big move was that interest rates rose sharply in Europe.

Germany, Switzerland, and Japan as well saw 5-year bond yields turn positive.

The background is rising inflation concerns.

＜Reference＞
Euro rises against the dollar after the February 3 ECB meeting - GogoJungle

U.S. Treasury yields

Finally, the 10-year Treasury yield surpassed 1.9%. If it rises further, markets are likely to become more focused on monetary tightening, which could push stock price earnings ratios lower. Buy-and-hold stocks will be difficult.

The 5-year yield appears to be about to invert with the 10-year yield. If that happens, it would signal that economic growth is slowing.