Daily Insights and finance industry analysis

Rates fall in a quieter session. Following the past few weeks of elevated volatility, rates markets were relatively quiet today. Treasury yields declined 1-4 bps across most of the curve, largely driven by continued trade wars between China and the U.S. The 2-year yield is currently 3.85%, down 40 bps YTD and -4 bps since

Treasury yields continue to soar. Last week’s dramatic flight to quality and surging demand for Treasurys has been almost fully reversed. Treasury yields rose 1-10 bps today, cementing a weekly increase of 30-50 bps. The 10-year yield rose more over the past five days than in any other week since the aftermath of 9/11, now

Rates fall on inflation data, further tariff developments. This morning’s CPI data fueled a 7 bp decline at the short end of the yield curve alongside growing odds for rate cuts. Clarification from the White House that tariffs against China are now 145% and China’s move to restrict American film imports further contributed to the decline

Tariff pause spurs market euphoria. Markets were relatively quiet today until President Trump announced a 90-day reciprocal tariff pause for all countries excluding China. Investors quickly flooded into riskier assets, and the short end of the yield curve soared as a result. The 2-year yield climbed to an intraday peak of 4.02%, nearly 40 bps above

Yields climb early but reverse course on US-China tariff news. The short end of the yield curve rose ~10bps to intraday highs early this morning, largely driven by optimism from Treasury Secretary Bessent regarding tariff negotiations. However, yields plummeted on reports that President Trump is eyeing additional tariffs against China. The yield decline continued throughout

Volatility reigns supreme again. Treasury yields declined ~20 bps overnight following President Trump’s and Treasury Secretary Bessent’s respective comments over the weekend that backed tariffs and pushed back on recession fears. However, this morning’s reports that Trump was considering a 90-day tariff pause spurred an immediate 20 bp climb in rates to intraday highs, a near

Yields whipsaw, equities plummet again in tariff aftermath. An overnight announcement that China would soon implement retaliatory tariffs against the US spurred concerns about trade wars and a recession. Treasury yields plummeted overnight, and the 2-year yield fell 21 bps from opening levels to a new 6-month low of 3.47%. However, a combination of strong

Treasurys soar and equities plummet as markets rush to safe assets. President Trump’s reciprocal tariff announcements have rattled markets and amplified recession fears. Yesterday, yields immediately dropped 10 bps from intraday highs into the close, continuing to fall overnight and throughout today’s session. Yields ended the day 18 bps lower at the short end of the

Yields decline following tariff unveiling. Rates markets were relatively quiet today leading into President Trump’s tariff announcements at 4 PM EST. At the start of Trump’s press conference, yields climbed 5 bps after the President reaffirmed 25% auto tariffs but did not expand on previously unannounced measures. However, yields plummeted ~12 bps from session highs

Yields fall slightly ahead of Trump’s tariff reveal. Treasurys rose again today, with yields falling 1-5 bps across a flattening curve after trading within a 6 bp range. The spread between the 2-year (3.88%) and 10-year (4.17%) yield is now 28 bps. Weaker than expected U.S. manufacturing data contributed to the decline, as concerns about an