Bond markets functioning in orderly manner, IMF says

LONDON, Oct 1 (Reuters) - ‌Global bond ​markets ​are still functioning in an orderly fashion, the International Monetary Fund said on ‌Thursday, following the recent sharp rise in ⁠yields that has driven world borrowing costs to their ‌highest levels in decades.

The ‌10-year US Treasury yield, the yardstick for global borrowing costs and asset prices, rose as ​high as 5.34% on Thursday, reaching its highest point since 2002. [MKTS/GLOB]

It also posted its ⁠biggest quarterly rise this century in the three months to September, ​with the selling pressure pulsing through other major countries' markets from France and Britain ​in Europe to Japan ‌in Asia.

"What we see globally is that bond markets are continuing to function ⁠in an orderly manner," IMF spokesperson Julie Kozack told reporters during a press conference.

Kozack also said ⁠energy prices remained a challenge for the global economy, with ​diesel, gasoline, and jet fuel prices up between 60% and 97% relative to pre-conflict levels, reflecting both the ‌impacts of the Iran war and limited global refining capacity.

"We've seen that the ‌energy shock, which is part of what's ⁠feeding headline inflation, is ‌not over yet," ​Kozack said.

(Reporting by Marc Jones and Libby George; Editing by Toby Chopra, Aidan ‌Lewis)

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