Better to Be an Hour Too Early Than a Minute Too Late
Well, that escalated quickly. The sleepy dog days of summer have given way to a bit of autumn drama in the bond market. US yields have gapped a full 20 basis points higher in the three weeks ending October 9 to take the prevailing rate on the 10-year Treasury to near 3.20% for the first time since 2011. Despite this, in a historical context, yields are far from demonstrably punitive levels.
Read the full commentary for insight on monetary policy, trade tensions, and other key factors affecting the US economy in the near term.
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