⚖️🔺 Sovereign Yields Rise Across The Board, Curves Flatten: Cable FX Macro

**As seen in Macro Walk report 05/19/23, subscribe at cablefxm.co.uk/reports

• The rates section in our Macro Walk report showed sovereign debt yields rising across our watch list. The move was led by N.Z., only JGB 2-year yields saw a marginal drop on the week

• Curves in the U.S., Canada, Germany, Italy, Australia and N.Z. flattened this week, N.Z. 2s10s lower by 15.9 basis points while the U.S. Treasury equivalent dropped by 6.8 basis points

• U.S. 2-year Treasury yield rose by 27.8 basis points, last at 4.2659%, yields saw the highest level since the March banking crisis