Bonds

Treasuries fell across the US curve, with shorter maturities leading the way after Federal Reserve Governor Christopher Waller said he wants to see "at least a couple months of better inflation data" before cutting rates.

The global shift to a low-carbon world will be "long, hard and complex," but Barclays's commitment is unwavering.

In credit, a risk-taking ebullience has taken hold. The lowest-rated traded company debt is outgunning safer assets.

D.E. Shaw is purchasing credit-linked notes sold by banks that transfer the risk to the buyer in exchange for a coupon payment, while keeping the assets on the lender's balance sheet.

Stickier inflation and deteriorating budget estimates "could start to reverse the 40-year downtrend" of a key measure of how much bond investors are compensated for holding long-term debt.

The trend gained momentum this week, when there was strong demand for contracts wagering that 10-year yields will breach 4.5%, a level they haven't exceeded since November.

The public retirement fund, one of the biggest in the US, said four years ago it would review all of its fossil-fuel holdings as it sought to reduce investment risks linked to climate change.

Treasuries sold off, with two-year yields hitting the highest since before the December central bank "pivot." Swap traders ratcheted down their expectations for a Fed cut before July.

Indeed, investors are also positioning for Friday's consumer-price index revisions because of what happened a year ago: the update was significant enough to cast doubt on overall inflation progress.

Investors tightening their credit pocketbooks is creating opportunities for lenders. Firms like Värde can step into the gap, buying assets from banks and investing in fixed income.