Live Updates > Live Update Details
2025-10-31 17:12:56
[Yield Rift: Reshaping the Global Bond Market Landscape and Opportunities for the US Dollar] ⑴ The yield on German 10-year government bonds was 2.654%, significantly lower than the US yield of 4.108%, forming a huge negative spread of 145.4 basis points. ⑵ The US 10-year yield is among the highest of major global economies, only lower than Australia's 4.306% and the UK's 4.429%, but significantly higher than core Eurozone countries. ⑶ In terms of short-term interest rates, the US 2-year yield reached 3.615%, surpassing most developed countries and only slightly lower than the UK's 3.792%, in stark contrast to Germany's 1.984%. ⑷ A clear yield ladder is visible: Japan's long-term yield is the lowest at only 1.659%, with Germany and other Eurozone countries in the middle, and English-speaking countries such as the UK, US, and Australia consistently leading in yields. ⑸ As the benchmark for the Eurozone, Germany's 10-year yield has a positive spread of 50-77 basis points compared to major Eurozone countries such as Belgium, France, and Italy. (6) Cross-maturity comparisons show that the US yield curve is relatively steep, with a spread of nearly 50 basis points between 10-year and 2-year yields, while the German curve is relatively flat. (7) This multi-tiered yield differential provides clear directional guidance for global capital flows, and the attractiveness of high-yield currency assets continues to increase.
