Daily Insights and finance industry analysis

Markets shed risk as trade fears swirl. Treasury rates fell ~4-6 bps across the long end of the curve today, with the 2-year and 10-year ending ~5 bps lower at ~3.78% and ~4.30%, respectively, after markets digested President Trump’s comments that he would take a firmer hand in tariff negotiations by dictating terms. Major equity indices

Treasury yields inch higher after ISM services data. Treasury yields rose today, led by the long end of the curve, with the 2-year yield rising ~1 bp to ~3.83% and the 10-year closing ~4 bps higher at ~4.34%, after the service sector grew more than expected in April. Still, resurgent trade-war fears prevented a broader risk-on

Rates soar on positive jobs data and trade developments. U.S. Treasury yields rose ~7-13 bps across the long end of the curve today, with the 2-year ending at ~3.82% and the 10-year closing at ~4.31%, after the labor market proved better than expected in April and following early signs that China may be open to trade

Markets risk-on ahead of labor data. Optimism from yesterday’s news that the U.S. reached out to China for tariff negotiations combined with today’s stronger-than-expected U.S. manufacturing data to fuel risk-on sentiment. Treasury yields surged as a result, with the policy-sensitive 2-year yield (3.70%) up 10 bps and the long-end of the curve up 4-5 bps. Stocks

Treasurys rally following a key slate of economic data. Today’s economic data was highlighted by a U.S. GDP contraction in 1Q 2025 and generally higher-than-expected inflation. The combination spurred stagflation fears and a corresponding flight to quality, with Treasury yields falling 1-5 bps across most of the curve. The 2-year yield (-5 bps) closed at

Yields fall on U.S. economic data. Treasury yields fell 2-5 bps across the curve today, pushing 2-year and 10-year yields to 3.65% and 4.17%, respectively. The move was initially driven by a record U.S. trade deficit in goods, which jumped to -$162B in March, a negative input for Q1 GDP. A near 5-year low in

Yields fall and the Dollar weakens ahead of a busy week. Treasury yields fell throughout the day, ending ~2-6 bps lower across the long end of the curve. The 2-year yield closed at ~3.69% and the 10-year yield ended at ~4.21%. The declines come as markets brace themselves for a week featuring employment, PCE and GDP

Treasurys rise following tariff news, weak economic data. Yields declined 2-8 bps across the curve today following more aggressive comments from President Trump regarding impending trade negotiations with China. A decline in consumer sentiment and spiking inflation expectations also contributed after both raised concerns about a potential economic slowdown. The 2-year yield closed at 3.75%,

Rates fall after China denies negotiations with U.S. Just a day after President Trump fueled a risk-on session with optimistic comments about negotiations with China, Beijing denied that talks had commenced. The policy-sensitive 2-year yield (3.80%) declined 7 bps with markets betting that prolonged U.S.- China tensions could drive the Fed to cut rates earlier than

President Trump and Treasury Secretary Bessent fuel rate volatility. The selling of longer-term Treasurys came to a halt this morning, with the 10-year yield falling 14 bps to an intraday low of 4.26%. The move was driven by President Trump, who said late yesterday that he would not fire Chair Powell, in addition to offering