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2026-09-21 18:28:10
[Rising Short-Term Bond Yields Lead to Credit Outflows] ⑴ A September survey of credit investors indicates that rising short-term bond yields may make cash-like products more attractive, leading to credit outflows. ⑵ High oil prices have led investors to expect major central banks to raise interest rates rapidly, further pushing up short-term bond yields. ⑶ Data shows that the yield on UK 2-year government bonds reached approximately 5% last week, the highest level since October 2023. ⑷ Rising short-term interest rates are changing the logic of capital allocation; if oil prices remain high, the pressure of capital outflows from the credit market may further intensify.
