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Friday, March 29, 2024

10Y Treasury Yield Tops 3.00% For First Time Since Jan 2014, Curve Flattening Continues

Courtesy of ZeroHedge. View original post here.

Despite near-record speculative positioning short Treasuries across the curve…

Yields are rising, and rising fast with 10Y breaking  the 3.00% Maginot Line for the first time since January 2014…

After not quite getting there yesterday, today’s selling finally pushed the 10Y over the level…

Meanwhile, 2Y Yields topped 2.5% – the highest since Sept 2008

Investors haven’t been this pessimistic on benchmark U.S. Treasuries since February’s sell-off in equities.

And as Bloomberg reports, fund managers who need to insulate their bond portfolios from higher yields are having to pay a stiffer premium for puts over calls now than at the start of the year.

For now, bond yields are running ahead of Jeff Gundlach’s favorite indicator (Copper/Gold)…

But amid all the panic about rising bond yields… the yield curve continues to flatten on the day…

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