BGB - Fixed Income: Rowing Against The Tide
It's a day of record highs for US Treasury long-term yields.
Stronger-than-expected economic data saw Treasuries selling off, consequently pushing the 10-year yield to 3.144%, its highest level since 2011.
Yield on the 30-year bond also tops the 2018 peak to reach a four-year high at 3.298%.
It was only two months ago when traders predicted slightly more than one rate increase (by the Fed) over the next year. The messages that the Fed Chair delivered during the press conference (that concluded the last FOMC meeting) left investors a little bit confused. No more!
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