Treasuries remain bid as stock rally falters
|Treasuries ended the last week on a higher note and remain well bid in Asia amid losses on the Wall Street and signs of weakness in the Asian stocks
The yield on the 10-year Treasury note slipped to 2.5% on Friday, resuming a slide sparked by a dovish tone from the US central bank. The yield remains around 2.5% this Monday morning.
Fed’s dovish hike led to a sharp drop in the Treasury yields, suggesting a significant majority in the markets were expecting the central bank to signal sequential rate hikes.
In the meantime, losses in oil prices also weighed over the treasury yields.
Eleven Fed policymakers are set to take centre stage this week. Comments on inflation and the pace of rate hikes could move the treasury yields.
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