The pros said “let the bond market speak.” But investors don’t like what it’s saying on Tuesday. After an unusual intervention by the Treasury Department in August did little to tamp down bond-market jitters, US Treasury yields are spiking again, but the latest sell-off isn’t confined to the US. A host of macroeconomic fears is
The word “Goldilocks” is meme-ing out in US markets right now. It’s a reference to how recent economic data has been neither too cold nor too hot. The labor market and consumer spending have been cooling lately, while inflation has remained relatively mild. For the purposes of keeping interest rates on hold, the recent figures
Washington and Tokyo’s rare joint intervention to support the yen has put renewed focus on Japan, the largest foreign holder of US Treasurys. Early on Tuesday, the dollar-yen pair traded at around 157 against the dollar after rebounding from a nearly four-decade low of around 164, following intervention by US and Japanese authorities on Friday.
