Global Macro Service > Research Briefings > United States

Yields break higher in search of support

The intermediate sector of the Treasury curve has led a massive selloff in the rates markets today amid a broader risk-on trade that has included a sharp move higher in equities. Five-year and 7-year yields climbed by more than 15 bps at the day’s worst levels before a well bid 30-year bond auction provided support, while the S&P 500 Index gained as much as 0.70% and the DJIA rose 1.13%.

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