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Markets Just Witnessed The Best Month For US Government Bond Returns Since 2008 – What Now?
Congrats are in order for anyone who came into August convinced that the bond rally had (much) further to run, despite 10-year US yields having already fallen some 80bps in the first seven months of 2019.
When it was all said and done, US Treasurys posted their best monthly gain since the crisis in August, spurred along by the intensification of global growth fears, trade escalations, Brexit jitters and hedging flows into a thin market.
A benchmark index for US debt returned more than 3% for t
Two ways to steepen the yield curve.
1. Have the Treasury sell 10 y and 30 y debt and issue only very small amounts of short term paper
2. The Feds should announce that it is going to launch operation”untwist” by selling 10y and 30y maturities .