The 10-year Treasury yield leapt by more than 45bp in May, breaching the 2% level. US government bonds were partly undermined by the minutes of the FOMC’s latest meeting, which suggested a number of Fed officials may be willing to trim the pace of the Bank’s asset purchases in the near future. However, the weakness in bonds actually began much earlier in the month.
Subscriber content
Read this in full, free
Start a free trial and use one of your 10 free starter credits to unlock this piece.