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2-Year Yields Nearly 50bp Back From Cycle Highs

US TSYS

2-Year Tsy yields managed to look below their June 27 low earlier today as the pullback from cycle highs neared ~50bp in the wake of yesterday’s CPI data, although there has been a moderation in the richening, leaving 2s ~8bp richer on the day, around 4.66%. An extension beyond today’s yield low would open the way to congested support in the 4.52.4.4909% zone. PPI and weekly jobless claims data, as well as Fedspeak, present the imminent event risk.


Fig. 1: 2-Year Tsy Yield (%)

Source: MNI Market News/Bloomberg

MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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