“Sovereign bond markets around the world are on the cusp of their worst performance since 1949, when Europe was in ruins recovering from the Second World War,” Bloomberg reported, citing analysts at Bank of America.
It is noted that the US Federal Reserve and a number of other Central Banks stopped keeping the interest rate near zero to support the economy, which had a serious impact.
On September 21, the US Federal Reserve raised the base rate to 3-3.25% per annum.
In July, US Federal Reserve Chairman Jerome Powell announced the possibility of another significant rate hike.