The market was back to pondering another sharp move higher in yields Wednesday, although things calmed down around midday in the US. At one point, 10-year yields were higher by 10bps, up near 1.50% -- again. The catalyst (or one catalyst anyway) was a concurrent selloff in gilts, triggered by the UK's plans to borrow considerably more than the market expected. That news, combined with reports that the ECB doesn't necessarily think recent rate rise calls for "drastic action," added a few more w
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3 thoughts on “Potpourri

  1. Tomorrow will see Powell doing his best Kevin Bacon (Animal House): “Stay calm. Stay calm. Nothing to worry about.” The next move by the Fed will be to increase their bond purchases, not taper them. That’s the reality of our late-capitalist-stage world.

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