WS #14747
The US 30-year Treasury yield has surged to its highest level since 2004, reflecting a deepening global bond selloff and hawkish Fed expectations. This macro shock is weighing heavily on global risk assets, causing volatility in equity markets and significant depreciation in emerging market currencies like the Indonesian rupiah. The rising cost of capital is particularly damaging to high-multiple growth stocks and sectors sensitive to discount rates, such as Indian IT and unprofitable tech.
US Treasury Yield Spike and Macro Selloff
The US 30-year Treasury yield has surged to its highest level since 2004, reflecting a deepening global bond selloff and hawkish Fed expectations. This macro shock is weighing heavily on global risk assets, causing volatility in equity markets and significant depreciation in emerging market currencies like the Indonesian rupiah. The rising cost of capital is particularly damaging to high-multiple growth stocks and sectors sensitive to discount rates, such as Indian IT and unprofitable tech.