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Ahead of expected US short-term rate hike, long-term bond yields up globally

Long-term rates are on the rise around the world, with yields on 10-year sovereign bonds up in 14 of the 15 largest global economies since the U.S. presidential election.

Only India saw the yield on its 10-year bond decline between Nov. 9 and Dec. 9. During the same period, Japan's 10-year yield moved back into positive territory and reached its highest level since February.

The yield on the 10-year U.S. Treasury note shot up nearly 20 basis points on Nov. 9, the day after Donald Trump's surprise victory in the U.S. presidential election, and then gained another 40 basis points to 2.47% in the following month.

Meanwhile, all eyes are on the short end of the yield curve, as markets expect the U.S. Federal Open Market Committee to raise its target for the federal funds rate for the first time in almost a year. Ahead of that much-anticipated hike, S&P Global Market Intelligence presents a snapshot of how yields on long-term sovereign bonds have fared in the month since the U.S. election.

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