The global sell-off of bonds extended into the Asian markets on Friday in reaction to the smaller-than expected 25 basis point interest rate cut by the U.S. Federal Reserve earlier this week, according to Reuters.

Share markets rose, and government issued Japanese bonds (JGBs) were sold off at a rapid rate, due to investors seeking better returns elsewhere. U.S. treasuries tanked on Thursday as well, with a General Motors offering that lured away investors who felt the Fed’s monetary policy was a disappointment.

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