The Treasury bond market is headed for an unknown destination as it sheds key anchors, Mohamed El-Erian says

• The Treasury bond market is headed for an unknown destination, Mohamed El-Erian wrote in the Financial Times.
• "The US bond market is losing its strategic footing, whether in economics, policy, or technical aspects."
• Treasury resilience may be at risk if key anchors are not reestablished.

The Treasury bond market is headed for the unknown as it sheds key anchors, economist Mohamed El-Erian wrote in the Financial Times.

The recent volatility that rocked bond yields into sudden extremes goes beyond the latest reports on inflation or policy stances from Federal Reserve officials, the chief economic adviser to Allianz added.

"The US bond market is losing its strategic footing, whether in economics, policy, or technical aspects," he said.