US yields keep highs ahead of GDP
|The upside momentum in US yields remain intact so far this week, extending the rebound from recent lows and currently flirting with fresh multi-month levels.
Yields in the main benchmarks, such as the 2-year, 5-year, 10-year and 30-year are currently navigating a ‘sea of green’ at 0.888%, 1.349%, 1.856% and 2.609%, respectively, all levels last seen in the first months of the year.
Increasing expectations of a Fed’s move by end of 2016 continue to sustain the upbeat sentiment in yields and thus lending oxygen to the USD-rally. Based on Fed Funds futures prices, CME Group’s FedWatch tool now sees the probability of higher rates in December at above 70%, meandering between 68% and 72% in recent sessions.
Later in the NA session, US advanced GDP figures for the third quarter are due seconded by the final October’s results from the Reuters/Michigan index.
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