The U.S. Treasury 10-year yield ranked top on a global rates cumulative movement measure. The panel shows Israel on top, but this was due to a rise in the cost of insurance against the country's default
U.S. 10-year yield rose 14.5bps to 4.704%, this was three times the average move recorded over the last 90 days. The curve steepened as 2s10s increased by 6.3bps to -36.2bps
In the 10-year bond space, only Canada came close to the underperformance, Canadian yields rose 12.3bps on the day
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