As I often told my fixed-income investment and securities students at Chicago, Ohio State and George Mason University, any 10 basis point change in the 10-year US Treasury yield is significant.
But what about the current 20 basis point drop in the 10-year US Treasury yield?
The UK 10-year yield has fallen further to -24.1 basis points. Germany down -18 bp and France down -10.3 bp.
Speaking of credit default swaps, Credit Suisse is back to financial crisis levels, while UBS and Deutsche Bank are still not.
And gold jumped $28.5 today as POP gains yield.
With all the turmoil in the markets thanks to the war in Ukraine and Biden’s mandates and green energy spending (not to mention statesmen like Klaus Schwab shouting about a big reset), I remembered simpler times.