Reflation Trade Continues As Yields Climb, Bond Rout Intensifies

Reflation Trade Continues As Yields Climb, Bond Rout Intensifies

Well, the reflation trade (see here for more) marches on as the 10-year tacked on another 6 bps to move to 2.47%: This is is something you need to pay close attention to. Remember, we're talking about some $1 trillion in losses since July. Here's Goldman: We predicted that a 100bp interest rate shock would translate into over $1tn in market value losses. Recent events tested that prediction, as 10-year Treasury rates have risen 100bp from the lows in July. Over the same period, we estimate th
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