全球债券抛售加剧，30年期美债收益率创2007年来新高

[music] Bloomberg Audio Studios, podcasts, radio, news. This is the Bloomberg Daybreak Europe podcast. Good morning from London. It's Tuesday the 18th of August. I'm Steven Carroll

and I'm Lizzie Verden. Coming up today, a global bond route sends long-term government borrowing costs to their highest levels in decades. Meta faces a trillion dollar trial over claims it deliberately designed Facebook and Instagram to encourage compulsive use among young people.

Plus, a dose of retail therapy. Frasers goes bargain hunting for British shopping centers as it sets its sights on a 20 billion pound property empire.

Let's start with a roundup of our top stories.

Government borrowing costs are surging around the world as longdated bonds bear the brunt of investor worries over inflation, budget deficits, and AI spending. The yield on 30-year US debt has driven above 5.3%, the highest since 2007. French borrowing costs are their highest since 2008 with German yields at 2011 levels. In the UK, 30-year guilt yields are approaching 6% while their Japanese equivalents are close to an all-time high.

And investors are showing growing signs of unease. In a newly published note, strategists led by Ed Yardini said, "We aren't pushing the panic button. However, we are closely monitoring whether the bond vigilantes might do so. Ruth Carson is our chief FX and rates correspondent.

Bond vigilantes are definitely out and demanding to be paid for taking on US government bond risk and in fact global risk as a whole when it comes to rates. And it points to a number of things. An ongoing Iran war, inflation angst, got government spending, fiscal worries. You know, the pot isn't looking that good at all for bond investors looking for duration. So, what do you do in this environment? You sell. And we all know that when it comes to risky government debt, the longer the duration, the riskier it is.

Ruth Carson points out that the grind higher in yield is also being fueled by a ramp up of corporate borrowing to fund the trillion dollar AI investment boom. Middle East peace efforts have suffered a fresh setback with US President Donald Trump, saying he won't extend the expiring truce agreement with Iran. Separately, Trump told Fox News he would bomb Oman if it quote gets in the way in the Strait of Hormuz. Oman is negotiating with Iran over shipping through the straight, but the US isn't part of those talks.

Our White House correspondent Tyler Kendall has more. President Trump in the same interview said that he is in quote no hurry to end the conflict in Iran as the White House at this point for weeks has been reiterating that they are going to opt for the economic pressure campaign over restarting full military operations. But amid this new threat against Oman. We'll have to see where that calculus goes from here.

With Pinberg's White House correspondent Tyler Kendall, Brent crew climbed above 9150 a barrel as prospects dim for a swift reopening of the straight of Hormuz. The president of Latvia says Russia's hybrid war in Europe has already begun. Ed Rinkovic told reporters, quote, "It's not something that will start in the future. It's happening now." His comments follow European intelligence warnings that Russian security services could be planning sabotage or false flag attacks against the Baltic States and Poland.

Europe has also seen an uptick in suspicious activity, including drones and alleged arson attacks. Bloomberg's Tony Halpin has more.

There have been a number of such incidents. There was one in Latvia last week. There have been others in Bulgaria and Romania and a stray missile indeed in Poland. When you've got the volume of drones that each side is putting up into the air against the other now and waging electronic diversions to try and push them off their flight paths, this kind of thing is going to happen and it presents a challenge for NATO to defend its airspace.

Tony Halpin there who leads our Russia coverage. Latvia says it's carefully monitoring events alongside its NATO allies and quote must be ready for any scenario. China's Premier League is calling for more support for the economy after a broad slowdown in growth. China's number two official says policymakers should promptly draw up what he called practical and effective additional measures. Lee urged officials to accelerate government funding and increase support for investment in emerging industries and infrastructure.

The call follows July data showing industrial output consumption and investment all weakened more than expected. Meta is facing a potential trillion dollar penalty in a landmark social media trial in California. The tech giant faces claims from 29 US states that it deliberately designed Facebook and Instagram to encourage compulsive use among young users. Bloomberg News tech reporter Alexander Lavine explains.

At question here is is really the product design. So it's notifications that are pinging young people overnight uh in the middle of the night while they're supposed to be sleeping. It is the the algorithm that keeps them uh you know doing an infinite scroll. It is all design decisions that really not just in the state AG's case but in all of the all of the uh litigation that we've seen playing out this year that has been the primary focus.

Bloomberg News tech reporter Alexander Lavine there. The trial carries enormous risk for Meta with potential penalties of as much as $1.4 trillion. Court orders could also face change force changes to how its platforms operate. Meta denies the state's allegations and accuses the attorneys general of seeking unreasonable design changes and an outlandish payout.

Anthropic is on track to generate annualized revenue of more than $65 billion based on its current performance. That's according to a recent update shared with investors. The figure is up more than seven times its pace at the end of last year. Bloomberg's Rachel Mets says the latest information shows significant progress. So we have this revenue number which is many times what the company had reported um just a year earlier which indicates that what it is doing is trying to sell its services um especially to companies but also consumers are buying in services as well for its chatbot cloud is working.

Reporter Rachel Mets. The news comes as Anthropolis is expected to make its debut on the public market as soon as this autumn after Bloomberg reported that it filed confidentially for a listing and is working with Morgan Stanley Goldman Sachs and JP Morgan. The firm was valued at $965 billion after a funding round in May, making it one of the world's largest private companies and eclipsing arch rivals OpenAI's valuation for the first time.

And UK businesses say that AI is creating new jobs in a sign of a changing economy. More than half of the employers surveyed by Lloyd's business barometer say the push to harness the new technology is creating roles. Binberg's James Wilcox has more. British employers are hunting for experienced staff with AI skills and cutting back elsewhere. The Lloyd survey is the latest in a series of data points pointing to a two-tier labor market emerging.

Younger people looking for a first job, especially in areas like software development, are finding there are fewer places who want them. Analysis by Bank of England staff suggests firms using AI are becoming more productive, but those gains are coming at the expense of jobs. In London, James Walco, Bloomberg Radio. Those are your top stories on the markets this morning. We're watching the 30-year Treasury yield up another two basis points, 5.32% this morning after it hit its highest level since 2007.

Japanese yields also rising at the long end too. The 30-year Japanese bond up six basis points. On currency markets, the Bloomberg dollar spot index a tenth of 1% stronger. The Japanese yen is 210 weaker at 15972 this morning. Oil prices on the rise 710 for brand crude $9153. Stocks t