⚖️❗️U.S. Front-End Records +100Bps Decline Over The Month: Cable FX Macro

**As seen in Macro Walk report 04/07/23, subscribe at cablefxm.co.uk/reports

• The rates section of our weekly Macro Walk report is flashing a 100bps drop in U.S. 2-year yields over the month, last at 3.987%, up 1bp on Monday session

• The week was led by a rise in N.Z. rates, this pushed 10-year yields lower by 25.4bps. The move comes as the RBNZ surprised markets by lifting the OCR 50bps to 5.25%

• We saw declines across the board except for JGBs, rates were offered heading into Ueda's hearing as new BoJ governor