dinsdag 25 juli 2017

Bonds Battered Ahead Of Fed, 30Y Yield Back Above 2.90%

In its ubiquitous manner, traders are selling bonds ahead of tomorrow's 'nothingburger' from The Fed. While no rate move is expected, more color on balance sheet normalization is perhaps spooking bonds a bit as the long-end yields are up 7bps, back above 2.90%. Some key levels for the 30y Yield...


So the long-end yield is now back above pre-June-rate-hike levels and reaching back towards Yellen's reportedly dovish tones from last week's Humphrey Hawkins testimonies. Notably bonds and stocks have recoupled since Draghi broke the correlation...