Don Curren 🇨🇦🇺🇦1 Yields, especially on longer-term #US #Treasury #debt, have surged in recent days while the #dollar has plunged. Even more disconcerting is the pattern of the recent market moves. #Investors have often dumped 10- and 30-year #Treasuries … 🧵
#markets
2 … pushing prices down and yields up — at the very same time they frantically sold #stocks, #crypto and other #risky #assets. The inverse is also true, with #Treasuries rising in unison with them. 🧵
#markets #bonds #bondmarkets #USTreasurys
3 Bloomberg: They are trading, in other words, a little like a #risky #asset themselves, with profound implications for the #global #financialsystem. 🧵
#USTreasurys #bonds #bondmarkets #markets
4 Bloomberg: #Treasuries and the #dollar get their strength from “the world’s perception of the competence of #American #fiscal and #monetary management and the solidity of American #political and #financial #institutions,” … 🧵
#USTreasuries #bonds #bondmarkets #markets
5 Bloomberg: … said Jim Grant, founder of Grant’s Interest Rate Observer. “Possibly, the world is reconsidering.”