By Kevin Flanagan, Head of Fixed Income Strategy
When following rate trends here in the U.S., it's easy to focus only on domestic factors - you know, the Federal Reserve (Fed), the monthly jobs report, etc. However, there have been some interesting developments overseas that have been largely ignored in market commentary and that got me thinking globally.
One of the foundations of the lower U.S. Treasury ((UST)) 10-Year yield over the last few years has been the lack of any alternatives in the developed world sovereign debt markets. Indeed, negative government bond yields abroad