835 days ago • Posted by Paul de La Baume
US 10 year Treasury yields jump 2.5% to 1.67%. #macro #Fed #yields #treasuries
Strong data and positive news on the omicron variant sent US 10 year Treasury yields surging higher to 1.67%, a level not reached since November 2021. US 2 year Treasury yields also followed the move up. Traders are re-pricing for a more aggressive Fed as the economy appears strong with a ISM manufacturing activity reading of 58.7 for last month. Additionally, data showed demand for workers in the US remained elevated in November, indicating the economy is strong. Investors remain very sensitive to signs of inflation and of a less accommodative Fed. The sudden move up in yields sent banking shares soaring and caused growth stocks to suffer.
