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Yields Jump, Greenback Bid
Yields are surging. Canada and Australia's two-year yields have jumped 20 bp, with the US yield is up 10 bp to 2.37% ahead of the $50 bln sale later today. The US 10-year yield has risen a more modest three basis points to 2.50%, flattening the 2-10-year yields curve. The 5–30-year curve has inverted for the first time since 2016. European 10-year benchmark yields have risen 3-7 bp. Tech stocks helped power the Hang Seng and Australia eked out a small gain, but most of equity markets in the Asia Pacific region sold off for third consecutive session. Led by financials, utilities, and communication, the Stoxx 600 has ... (full story)