Bond market discontent grows louder
Kia ora,
Welcome to Thursday’s Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand.
I'm David Chaston and this is the international edition from Interest.co.nz.
And today we lead with news the bond market is speaking, passing judgement on the Trump Budget - it doesn't like it.
The benchmark US Treasury 10yr, 20yr and 30yr bond yields have all jumped +12 bps so far today. That means their holders are taking sharp capital losses as the price of 'safety', and new buyers want sharply higher risk premiums. These rates are closing in on pre-GFC levels now…
The skinny
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