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The bond market is sniffing out trouble
Today's bond market moves are curiously large, with US 10-year yields down 15 bps to 3.54%. That's at the same time as stock markets have moved sideways
The 'normal' view of today's market is that a few factors have come together:
- Powell's dovish shift leading to conviction that 6-7% Fed funds are off the table, with the terminal top around 5%
- The turn of the month
- A bit of a dollar-bonds spiral
- The ISM report lending conviction to hard landing theori... Read More
Posted: Dec 1 2022, 18:20
Author Name: forexlive
Views: 092053