Is the bond market rout finally over? ...Middle East

10-year Treasury yields took a big tumble in trading yesterday as the Treasury quarterly refunding announcement was not as bad as feared. The flood of supply was lower than anticipated and that sparked a rally in bonds, helped by a less hawkish take by Powell. The latter is just a supplementary factor in my view as it seems like there is a squeeze running now after the heavy selling in the bond market. Have we hit a peak at the 5% mark?Yields are down another 1.2 bps today to 4.722% currently, following the near 20 bps tumble in trading yesterday. That sparked a strong risk rally and it is also leading to a much softer US dollar. In particular, USD/JPY was angling for a breakout only to see

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Last updated : 02 Nov 2023 clock 07:12 AM

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Is the bond market rout finally over? ...Middle East

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