A global bond selloff set the tone this week. Long-dated yields pushed to levels not seen in decades, and equities felt it from Frankfurt to Tokyo.

In this week’s update:

— Bond yields surge to multi-decade highs
UK 30-year gilts touched 5.89%, the highest since March 1998, as Middle East tensions lifted oil and revived inflation worries. US yields climbed alongside.

— Snowflake soars on an earnings beat
The AI data cloud group beat on both lines, with Q2 revenue of $1.55B, up 35% year on year, and raised full-year product revenue guidance to $6.07B. Shares jumped around 20%.

— European stocks slip as yields rise
The STOXX 600 fell to a one-month low before closing down 0.2% at 645.94. Germany’s 30-year yield hit a fresh 15-year high and France’s 30-year reached its highest since 2008.

— Nikkei slips as Japan’s 10-year yield hits 3%
The benchmark JGB yield reached 3% for the first time since 1996, having more than tripled in two years, as a weak yen and sticky inflation build the case for further BOJ tightening.

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