Bond Yields Rebound as Warsh Pledges to Quell Inflation Fears

Global bond yields retreated on Thursday after Federal Reserve Chairman Kevin Warsh's vow to tame inflation calmed a pressured market.

The yield on 10-year Treasuries fell three basis points to 4.99%, ending eight days of gains, while similar notes in Australia and Japan declined by three basis points and less than one basis point, respectively.

Warsh's comments helped alleviate concerns about inflation, which had been driving market volatility lately.

Traders are now awaiting the Bank of Japan's decision on Friday, which is expected to have a significant impact on global markets.