# Decoding the bond sell-off

Page: https://stenobird.com/podcast/barclays-brief-7527145/decoding-the-bond-sell-off
Text version: https://stenobird.com/podcast/barclays-brief-7527145/decoding-the-bond-sell-off.md
Podcast: [Barclays Brief](https://stenobird.com/podcast/barclays-brief-7527145)
Published: 2026-05-19T08:00:00+00:00
Episode link: https://www.ib.barclays/
Audio file: https://episodes.captivate.fm/episode/f8310b10-2741-48be-b606-df65da2f56cb.mp3
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JSON: https://stenobird.com/v1/public/podcasts/barclays-brief-7527145/episodes/decoding-the-bond-sell-off
Duration seconds: 677

## Resource

Global bond yields have been rising sharply, with long-term yields breaking higher across multiple markets - pushing US 30‑year yields above 5%.​ The sell-off was initially triggered by energy-linked inflation resulting from the Iran war, but increasingly reflects a broader, cross‑market re-pricing, with fiscal pressures, shifting rate expectations and signs of bear‑flattening emerging in key markets.​ In this episode of the Barclays Brief, Lucile Flight, Managing Director in Rates Trading, joins Patrick Coffey to examine what’s driving the move in different regions – from political uncertainty shaping UK gilts to changing views on neutral rates in the US and a dialled-back ECB response in Europe. ​ They discuss what could bring yields down again and where investors are seeing the most compelling opportunities across global rates.​ Listeners can hear more on this topic:​​​ Inflation crosscurrents: Energy vs AI ​ European rates: Inflation & AI waves collide ​ Clients can read more on Barclays Live:​​ Thinking Macro: No saving grace ​ Federal Reserve Commentary: What would trigger a 2026 Fed hike? United Kingdom Outlook: What a week... Global Economics Weekly: Leaders meet and bonds shriek

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## Transcript

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