Global Macro Service > Research Briefings > United States

Tight Treasury ranges can’t last forever

Despite bearish seasonal factors, Treasury yields remain pinned within the narrow ranges that have held since July. The market has been supported by rising foreign demand, safe-haven flows, the risk of temporarily lower Treasury issuance due to the debt ceiling, and curve flattening activity as a more hawkish Fed pulls forward rate hike projections and weighs on inflation expectations.

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