Kyith is the Owner and Sole Writer behind Investment Moats. Readers tune in to Investment Moats to learn and build stronger, firmer wealth foundations, how to have a Passive investment strategy, know more about investing in REITs and the nuts and bolts of Active Investing.
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Kyith worked as an IT operations engineer from 2004 to 2019. Currently, he works as a Senior Solutions Specialist in Fee-only Wealth Advisory firm Providend.
His investment broker of choice is Interactive Brokers, which allows him to invest in securities from different exchanges all over the world, at very low commission rates, without custodian fees, near spot currency rates.
Treasuries exhibited some relatively sharp moves yesterday, with 10-year yields reaching 2.19 per cent this morning:
In the bigger picture… maybe not quite a dramatic QExit-related panic:
Deutsche Bank’s Jim Reid says yesterday’s 16 basis point rise to 2.17 per cent was the highest one-day rise in 19 months, and brought it to the highest level since April last year. He reckons the consumer confidence data was a key trigger:
This brings the cumulative rise in yields to 50bp since the beginning of this month – spurring the return of “Great Rotation” talk. The majority of yesterdays move came after the release of the Conference Board’s US consumer confidence data which printed at a post-GFC high of 76.2 (vs 71.2 expected). There were also reports of technical selling after stops were triggered around the 2.08% to 2.10% level. Yesterday’s 2yr tnote auction didn’t help either after it recorded its lowest bid-to-cover ratio (3.04x) since February 2011.
Kyith
Thursday 30th of May 2013
Treasuries exhibited some relatively sharp moves yesterday, with 10-year yields reaching 2.19 per cent this morning:
In the bigger picture… maybe not quite a dramatic QExit-related panic:
Deutsche Bank’s Jim Reid says yesterday’s 16 basis point rise to 2.17 per cent was the highest one-day rise in 19 months, and brought it to the highest level since April last year. He reckons the consumer confidence data was a key trigger:
This brings the cumulative rise in yields to 50bp since the beginning of this month – spurring the return of “Great Rotation” talk. The majority of yesterdays move came after the release of the Conference Board’s US consumer confidence data which printed at a post-GFC high of 76.2 (vs 71.2 expected). There were also reports of technical selling after stops were triggered around the 2.08% to 2.10% level. Yesterday’s 2yr tnote auction didn’t help either after it recorded its lowest bid-to-cover ratio (3.04x) since February 2011.