November 29, 2022

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No follow through in Treasury yields surge so far today

1 min read

10-year yields are down 2 bps to 1.555% currently


The dollar may still be working with the technicals and gaining some modest ground in European morning trade but not a lot of that ‘hawkishness’ per se is being reflected in the bond market at the moment.

10-year yields are retracing slightly after yesterday’s surge, falling short of testing 1.60%.

In fact, yields are keeping lower on the day though we may have to wait on US traders to come in to be sure of things.

The Fed certainly did deliver a bit of a hawkish surprise yesterday – in terms of projections – but as long as they keep rate guidance the way it is, there is still reason for yields to be handicapped; as they have been since late March.

Keep an eye on things here as this could also prove to be a headwind for the dollar.

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