There hasn't been any concrete action (yet) but in the past few days the Fed has indicated it is standing ready to take action to support the markets . We are convinced that were it not for the $30 drop in the price of WTI, the Fed would've been much more tight lipped. Over the last few days there's been a decent bounce in yields in both of the primary safe haven assets: Bunds and Treasuries.
Here's the U.S. Yield curve:
And here's the Bund yield curve:
A little under a week ago we focused on the German 2 year whose yield had briefly dipped into negative territory. Since then, the yield has had a slight bounce to .07 but it sill remains at an extremely low level. Here's the line chart of the yield going back to the middle of February (it shows the daily high):
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