The IMF has urged regulators to sharpen their scrutiny of threats from rising bond yields, as a continuing surge in global borrowing costs triggers “heightened risk” in financial markets.
“When you see large moves that are very fast, it has more potential to trigger instability, because market participants have to reposition and there are these accelerators in the system that could kick in,” Tobias Adrian, director of the fund’s monetary and capital markets department told the Financial Times. “Hopefully, calm will prevail at some point, but there is certainly heightened risk [now].”
The remarks come amid weeks of volatility in the price of US government bonds.
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