Global Bonds Sell Off Amid Inflation Angst; Trump-Xi Summit Concludes | Bloomberg Brief 5/15/2026
Speakers
Then Run
— Bloomberg Reporter
Kelsey Berro
— Fixed Income Portfolio Manager, JPMorgan Asset Management
Summary
Global bond selloff intensifies amid inflation fears from oil prices and data. US yields rise, UK yields rise on political turmoil. Trump-Xi summit concludes with vague deliverables. JPMorgan's Kelsey Berro discusses bond market, while former ambassador Nicholas Burns analyzes US-China relations.
- Global bond yields rise sharply as oil prices climb above $100.
- UK political uncertainty pressures pound and gilts.
- Trump-Xi summit ends with no major trade deals, but leaders tout stronger ties.
- JPMorgan's Kelsey Berro says bond yields will remain higher but bound.
- Then Run predicts US Treasury yields will continue to rise.
- Bill Ackman's Pershing Square discloses new Microsoft stake.
- Cerebras IPO surges, highlighting AI demand.
- Former ambassador Burns warns on Taiwan and Iran issues.
Trade Ideas
Yields likely to go higher.
The path of least resistance for US Treasury yields is to go higher because inflation data (CPI, PPI) is incompatible with 2% target, inflation break-evens point to 3%, and the Fed's mid-range rate is inconsistent with inflation trajectory; the two-year yield is underpricing inflation risks and the 30-year yield faces upside risks from deficit and inflation import of shock money.
Up Next
This Bloomberg Markets video, published May 15, 2026, features Then Run discussing US 2-Year Yield, US 30-Year Yield. 1 trade idea extracted by AI with direction and confidence scoring.
Speakers: Then Run · Tickers: US 2-Year Yield, US 30-Year Yield