US Treasury bonds strengthened further this month, with the yield on the benchmark 10-year bond reac...
US Treasury bonds strengthened further this month, with the yield on the benchmark 10-year bond reaching 3.08% in mid-June, the lowest for a Treasury with 10 years left to maturity since 1958. This was prompted in part by anticipation of a further interest-rate cut from the Federal Reserve when it meets next week. Since the Iraqi war was concluded, US policy has been 'pedal to the metal'. Monetary policy is very stimulative, a massive fiscal boost through tax cuts is passing through Congress, oil prices are off their highs, and the dollar has weakened sharply, most notably against the eu...
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