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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
GLOBAL
- Volatility on the long end of the bond curves has been elevated in recent months globally given the significant surge in inflation.
- US 10Y yield had surged by 100bps since the start of 2021 to reach a local high of 2.0630% this month before retracing sharply lower in the past week due to the deterioration in the Russia/Ukraine conflict.
- In this table, we rank the 10Y government bond yield of 31 different countries (EM and DM) over time, from the lowest (1) to the highest (31).
- As expected, Russia now stands at the bottom of the League following the massive surge in the past week; Russia 10Y yield us currently trading at around 16% according to Bloomberg.
- The constant fall in China 10Y yield (yellow cell) in the past year amid significant deceleration in the economic activity increased China's ranking from 27 to 23.
- Interestingly, Japan (green cell) is back in the second place after rising up to 11 last year as the implied vol on the long-end of the curve has been much lower than in other countries due to the YCC policy.
- The US (red cell) is currently ranked 17 according to the 10Y yield, currently standing just above Singapore 10Y.
Source: Bloomberg/MNI
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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