US 10-year yield hits 5% for the first time since 2023
From the original
I thought 10-year buyers might hold the line until after the FOMC. There were a couple of strong auctions last week but it didn't matter with oil up $4 today and talk of longer shutdowns in the Saudi east-west pipeline. 5% is big but 5.02% is equally important as cracking it woul
Related speeches
4 itemsUS 10-Year Yield Tests Its Ceiling as 5.3% Draws Buyers, FOMC Minutes Bring AI Debt Into the Discussion - Action Forex
Rates Spark: US 10yr likely gets above and stays above 5% ahead
Rates Spark: Gimme five
The desk believes the U.S. 10-year Treasury yield, having just touched the 5% mark, is likely to test that resistance again, especially in the face of the upcoming Fed meeting. Per the full note from ing-think, the expectation is that a rate hike, which is anticipated by some, could either provide stability or further pressure yields beyond 5%. The commentary rightly notes that the yield dynamics are influenced by a blend of optimistically forecasted productivity, issuance concerns, and geopolitical risks, with the primary focus now being whether the market will journey toward 6%. With the Fed on the cusp of a potentially pivotal decision regarding another 25 basis point (bp) hike, market volatility could increase significantly, marking a crucial junction for the longer end of the curve.
More like this
5 itemsThis week we got a sneak-peak at the playbook for when the AI bubble bursts
Canada September employment change -68.3K vs +9.2K expected
USD/JPY intervention risks back in focus as Bessent, Katayama head to Bangkok
The Indian rupee collapses to new record lows as surging oil prices outweigh RBI rate hikes