The outlook for US bond yields
One of my Substack followers has requested an update on why the yield on the 10-year US Treasury rose earlier this week when virtually everyone expects the Fed to reduce its funds rate...
The rise in this bond’s yield has been notable in the last two weeks. Other than pointing out that the yield curve is sharply negative, and that 10-year yields can rise even if there is a 25 basis point cut in the Funds Rate, looking beyond short term uncertainties bond yields will rise for the following reasons:
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