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Market Roundup: Tsy Yields Continued Fall

US TSYS
Tsy yields made new session lows last few minutes, 30YY slipped to 2.0660%L, 2.1157% last (-.0454); 10YY 1.6800L, 1.7173% last -.1077.
  • No specific headline driver on midday rate rally -- though knock-off affect of Russia's ground war in Ukraine and subsequent wide-ranging sanctions are leaving their mark.
  • Induced stagflation?
  • Hearing growing opinion that current events will/may derail central bank plans to hike rates as risk-off/safe-haven buying forces yields lower -- while economic growth falters due knock-off effects of sanctions on Russia having broader ripple effect on food and gas prices.
  • Concerns over the Russia/Ukraine conflict getting worse/out of hand quickly more likely the main safe-haven driver -- not a more considered (esoteric) front-running of period of stagflation.
  • In the meantime, shares of global banking, shipping, oil producers/distributors, defense contractors alternately being pulled higher/lower due to positive/negative risk exposure to Russia sanctions as well.
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