# Panoramic Weekly: Bonds take a bath - Bond Vigilantes

> Global bond markets sold off over the past week after strong US data, with both bonds and equities falling. The IMF cut its 2018 world growth forecast to 3.7% from 3.9%, citing trade challenges, while Italian 10-year yields spiked to 3.5% over the budget dispute with Brussels. The Brazilian real surged 5% after far-right candidate Jair Bolsonaro led the first round of the presidential election.

- Date: 2018-10-11 · published 2018-10-11T12:00:00.000Z
- Category: macro · region Global · magnitude medium
- Page: https://feedsoft.ai/events/62819-panoramic-weekly-bonds-take-a-bath-bond-vigilantes
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Chinese Yuan (CNY per USD)](https://feedsoft.ai/c/USDCNY.md), [Brazilian Real (BRL per USD)](https://feedsoft.ai/c/USDBRL.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md)

## Why it matters

Dollar strength and weaker global growth pressure emerging-market currencies and feed-importing economies, raising their cost of buying US commodities. The Chinese yuan's slide toward 6.92 per dollar makes US feed ingredients more expensive for Chinese buyers, a bearish signal for export demand.

## Read by commodity

- DXY: bullish ▲
- SBM: bearish ▼
- USDBRL: bearish ▼
- USDCNY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2018-02-05 | [G10 FX Week Ahead: Watching Bonds \| ING THINK](https://feedsoft.ai/events/66736-g10-fx-week-ahead-watching-bonds-ing-think.md) | +1.1% | +0.6% |
| DXY | 2024-12-19 | [Oil Notches Weekly Loss on Tariff Risk, Fed’s Slower Easing Path](https://feedsoft.ai/events/27127-oil-notches-weekly-loss-on-tariff-risk-fed-s-slower-easing-path.md) | +0.5% | +1.4% |
| DXY | 2021-02-28 | [Asia-Pacific Currencies Weekly Recap:  High-Flying Aussie, Kiwi Drilled Lower Amid Bond Market Rout](https://feedsoft.ai/events/48892-asia-pacific-currencies-weekly-recap-high-flying-aussie-kiwi-drilled-lower-amid.md) | +0.8% | +0.8% |
| DXY | 2018-12-13 | [Euro slips as ECB ends bond purchases](https://feedsoft.ai/events/61763-euro-slips-as-ecb-ends-bond-purchases.md) | -0.1% | -1.9% |
| DXY | 2026-02-05 | [U.S. dollar hits two-week high, pound slumps after BoE holds rates](https://feedsoft.ai/events/20865-u-s-dollar-hits-two-week-high-pound-slumps-after-boe-holds-rates.md) | -0.7% | +1.1% |
| USDCNY | 2022-11-28 | [Dollar weakens as U.S. bond yields drop](https://feedsoft.ai/events/38899-dollar-weakens-as-u-s-bond-yields-drop.md) | -2.0% | -2.5% |
| USDCNY | 2023-08-18 | [Commodity weekly: China and FOMC woes weigh \| Saxo UK](https://feedsoft.ai/events/34488-commodity-weekly-china-and-fomc-woes-weigh-saxo-uk.md) | -0.2% | -0.2% |
| USDCNY | 2017-01-25 | [Surprise China MLF rate rise weighs on bonds; yuan and money rates fall \| Reuters](https://feedsoft.ai/events/73175-surprise-china-mlf-rate-rise-weighs-on-bonds-yuan-and-money-rates-fall-reuters.md) | +0.3% | +0.3% |

## Sources

- bondvigilantes.com: https://bondvigilantes.com/blog/2018/10/17335/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.