Emily Herbert
speaker
143 appearances
5 recordings
1 series
first heard May 2026
last heard 2 Sep
Emily Herbert’s voice in public audio — every appearance, attributed to the second.
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recordings per month · last 12 monthsRecordings per month over the last 12 months — 5 in all, peaking in Aug 2026 with 2.
Appearances
Yeah, the sell off has been kind of deepening over the last few weeks.
Bond yields have been kind of grinding higher.
So the moves yesterday weren't enormous on their own, but we did start to hit levels that we haven't seen for many decades that investors are getting really worried about.
Yeah, so something that a few investors were talking to me about yesterday was the kind of vicious cycle of this bond market sell off.
So in the short term, it's been caused by higher energy prices because we've had more escalation in the Middle East.
And what that means is that borrowing costs have gone higher for governments.
And this is only adding to the existing problem of their kind of fiscal sustainability, the amount of money that they're just spending overall.
And that in itself pushes borrowing costs higher.
So governments are looking at this kind of
Doom loop, as my source said, where they're having to spend more money borrowing money.
And the fiscal picture is definitely not getting better for a lot of these governments.
Starting to see a bit of that in some trading sessions.
So we saw a bit of weakness in the stock market yesterday, um, in the US and in Europe.
And some investors were saying that this was partly to do with the bond market sell-off.
So obviously, as bonds sell off, the price goes down and the yield goes up.
That's how the bond yields work.
And that means that an investor might then look at a 10-year US Treasury bond and say,
Oh well the yield has gone up to not far off five percent.
And if I can get five percent return on a ten year US Treasury bond.
Then maybe I should just buy that instead of buying equities.
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