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But we saved everything 🙂.
Robin Brooks highlights that the recent increase in long-term government bond yields cannot be attributed to a single factor.
He points to unstable global geopolitics, including recent developments involving Iran, as well as a breakdown in traditional political norms, particularly in the UK. According to Brooks, these conditions are contributing to higher 10-year forward yields in government bonds worldwide.
Brooks has recently analyzed other disruptions in global markets. He argued that Japan's foreign exchange interventions have struggled due to conflicting actions by the Ministry of Finance and the central bank. In a separate note, he highlighted that Germany's car exports to the U.S. have dropped to multi-year lows under new U.S. tariff threats.