US: 10-year yields poking above 2.95% - BBH
|Ahead of the weekend, the US 10-year yield poked above 2.95%, but not to 3.00%, to record its highest yield in four-years, notes the research team at BBH.
Key Quotes
“Recall that on April 2, the yield had fallen to almost 2.70%. Part of the rise reflects an increase in inflation expectations. The 10-year breakeven has risen about 15 bp this month to 2.19%, just shy of the 2014 high (~2.20%). Also, the 2-10 year curve fell to new cyclical lows on April 17 (~43 bp) but recovered to two-week highs (~50 bp) ahead of the weekend. The June note futures tested the low from February (119-14), and the continuation contract made new seven-year lows.”
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