They recommend selling 10-year bonds following a 17 basis point decline in yields since the start of the year, their best performance over the period since 2020. Bunds are now the most expensive they’ve been relative to short-dated interest rates swaps since March 2025, according to Barclays’ analysis.
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Each moment of horror is a fragment of the destruction wrought by an atmospheric machine-gun that in recent weeks has fired storm after storm at the western Mediterranean. Scientists do not know if climate breakdown helped pull the trigger, but research suggests it loaded the chamber with bigger bullets.