US 10-Year Yield Inches Lower after CPI
The yield on the 10-year US Treasury note hovered around 4.35% on Thursday following a surge of up to 22 basis points to 4.5% in the previous session. This fluctuation comes as markets evaluate the future of long-term Treasuries amidst easing inflation and the unpredictable economic policies of the new US Presidential administration. Both headline and core inflation decreased more than anticipated in March. However, the significant uncertainty surrounding US economic policies has hindered a notable recovery from this week's downturn in fixed-income securities. This reflects ongoing concerns about the reliability of US Treasuries amidst constantly shifting trade policy positions. President Trump moderated the scope of the sweeping tariffs announced this month but increased tariffs on Chinese goods to 125%. He also provided limited clarity on previous threats of imposing tariffs on key metals and chemicals. The White House offered mixed justifications for these changes, with Trump pointing to the bond market while others in the administration viewed them as opportunities for negotiation.
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