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10Y Real Yields Break Down To  Another All-Time Low

US TSYS

With 10 Year breakevens rising nearly 5bp in the wake of the surprisingly high CPI print, 10 Year real yields hit another all-time low, -1.2402% (through the Aug 4 low of -1.2235%), 2.3bp lower today.

  • That's worth noting for Treasury bears, because once again, higher breakevens are translating into increasingly negative real yields, w nominal yields staying relatively contained, 10 Year +2.7bp on the day.

10 Year TIPS Yield (Real Yield), Monthly, %Source: Bloomberg

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