US 30-year yields rise to the highs of the day

The driving force of yesterday’s coverage reversal from Donald Trump — at the least within the well-liked retelling — was resulting from rising long-dated yields. You’ll be able to see the drop in 30s yesterday simply earlier than 13:50 when the announcement has been made.

However within the final hour, they’ve began to speed up larger once more. The Financial institution of England additionally cancelled a 30-year public sale right now.

The entire dynamic nonetheless highlights that there are issues about liquidity or one thing occurring below the floor that is resulting in persistent promoting. In brief, Trump could not have rolled again sufficient.

Secondarily, it appears like Congressional management is pushing for a finances with bigger deficits. Proper now there may be some pushback on that however I am discovering it laborious to see any actual spending cuts within the information.

This text was written by Adam Button at www.ubaidahsan.com.



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