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Treasury yields rise as bad news is good news again

FXStreet (Mumbai) - The yield on the safe haven treasury notes in the US advanced on Monday amid risk-on rally in the equities across the globe.

10-yr yield above 2%

The 10-yr yield in the US now trades at 2.025%; up 3.5 basis points on the day. The 30-yr yield trades 4 basis points at 2.867%. At the short-end of the curve, the 2-yr yield advanced 2 basis points to 0.597%. The short-end of the curve is usually more policy sensitive.

The latest uptick in the yield represents “bad news is good news” trade. The dismal jobs report released on Friday and the resulting drop in the rate hike bets is being cheered by the markets across the globe.

However, it remains to be seen how long the ‘bad news is good news’ trade lasts.

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