Last week’s unusual turbulence in US Treasuries points to a deeper issue than just the latest reading of the runes on inflation and the interest rate intentions of the Federal Reserve. The US bond market is losing its strategic footing, whether in economics, policy, or technical aspects. There are readily available short-term explanations for the rollercoaster ride in yields that has garnered significant attention in the US and beyond. Early in the week, dovish statements by several Fed officials influenced market sentiment by indicating the possibility of no further interest rate hikes as the market had been doing the heavy lifting for them. Geopolitical concerns reinforced the yield movements. Bonds rallied sharply with yields falling.
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Public Analysis of Investments and Sustainability Evaluation