U.S. Treasury yields continue to rise on Thursday session, 2-year yields are set to climb higher for 10th consecutive day, last at 4.4398%. The cumulative move translates into a 43 basis points rise month-to-date
Our own measure of front-end dollar rate spreads is extending higher on Thursday, meanwhile, the dollar is trading in line with the more attractive yields
The swaps market is adding rate hike bets on Thursday, the 6-month tenor is up by 1.6bps implying a 5.272%. 2s10s flatten by 2.5bps on the day to -66.585bps, the U.S. Treasury curve inverts the most since March, preceding the banking crisis
Despite the recent parallel trading, the <.RDDXY> and the <.RDDXYIR> hold a short-term correlation coefficient of 20%, this is compared to a 72% seen back in February
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