US Treasuries: Yields hit multi-year highs – Deutsche Bank
Source Fxstreet
The Deutsche Bank Early Morning Reid details a sharp rise in US Treasury yields, with the 10-year reaching its highest level since 2007 and the 30-year touching levels last seen in 2004. The move is driven by strong data and increased odds of a Federal Reserve hike in October. Bund yields also climbed to post-2009 highs, underscoring broad global rates pressure.
Long-end yields break higher
"In the US, despite a partial pullback on Friday, the probability of a Fed hike in October climbed from 53% to 64% over the week."
"And in turn, the 10yr Treasury yield rose +16.6bps (+3.7bps Friday) to 5.16%, after hitting its highest level since 2007 on Thursday."
"There were even bigger milestones for the 30yr yield, which rose +16.5bps (+1.5bps Friday) to 5.49%. So that was its highest level since 2004, and also its biggest weekly jump since May."
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