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☆ Relentless climb in Treasury yields may have further to run after surging to 5%
▼ + stars: | 2023-10-20 | by ( David Randall | Davide Barbuscia | ) www.reuters.com time to read: +5 min

Still, some traders interpreted his comments as an endorsement of keeping rates around current levels through most of next year. Yields on the benchmark 10-year Treasury, which move inversely to bond prices, rose briefly to 5% late on Thursday, a closely watched level not seen since 2007. “That gives people the go ahead to take rates above 5%.”Whiteley said that he sees 10-year yields moving as high as 5.5% before peaking. An extended climb in Treasury yields risks exacerbating the pressures that have dogged a broad array of assets in recent months. Still, even if the Fed cuts rates over the next few years, yields could stay above 5% if inflation and growth remain high, he said.

Persons: Jerome Powell, Brendan McDermid, Stocks, ’ ”, Greg Whiteley, ” Whiteley, ”, Gennadiy Goldberg, ” Goldberg, Powell, Sameer Samana, Alan Rechtschaffen, Rechtschaffen, Robert Tipp, “ Organizations: YORK, Treasury, Federal Reserve, Federal, Economic, of New, REUTERS, New York Economic, Fed, TD Securities, Wells, Investment Institute, UBS Global Wealth Management, Tipp Locations: of New York, New York City, U.S, DoubleLine

Still, some traders interpreted his comments as an endorsement of keeping rates around current levels through most of next year. Yields on the benchmark 10-year Treasury, which move inversely to bond prices, rose briefly to 5% late on Thursday, a closely watched level not seen since 2007. "That gives people the go ahead to take rates above 5%.”Whiteley said that he sees 10-year yields moving as high as 5.5% before peaking. An extended climb in Treasury yields risks exacerbating the pressures that have dogged a broad array of assets in recent months. Still, even if the Fed cuts rates over the next few years, yields could stay above 5% if inflation and growth remain high, he said.

Persons: Jerome Powell, Brendan McDermid, Stocks, ”, Greg Whiteley, ” Whiteley, Gennadiy Goldberg, Goldberg, Powell, Sameer Samana, Alan Rechtschaffen, Rechtschaffen, Robert Tipp, Davide Barbuscia, David Randall, Saqib Iqbal Ahmed, Ira Iosebashvili, Megan Davies Organizations: Economic, of New, REUTERS, Treasury, Federal Reserve, New York Economic, Fed, TD Securities, Wells, Investment Institute, UBS Global Wealth Management, Tipp, Thomson Locations: of New York, New York City, U.S, DoubleLine

So-called bond vigilantes - investors who punish profligate governments by selling their bonds, driving yields higher - were a feature of markets in the 1990s, when concerns over U.S. federal spending pushed Treasury yields to 8%. Strategist Ed Yardeni, who coined the bond vigilantes term in the early 1980s, has also chimed in. “The bond vigilantes have been challenging (Treasury Secretary Janet) Yellen’s policies by raising bond yields to levels that threaten to create a debt crisis,” he said in a Financial Times opinion piece on Wednesday. Famed bond investor Bill Gross, who co-founded Pacific Investment Management Co., said bond vigilantes will have a muted effect now given the Fed's larger role in markets. Bond investors "are rather powerless pawns in this interest rate chess game," he told Reuters by email.

Persons: Fitch, doesn't, Gene Tannuzzo, Jake Remley, Ed Yardeni, Janet, ”, Bill Gross, Greg Whiteley, Robert Tipp, David Randall, Davide Barbuscia, Ira Iosebashvili, Megan Davies, Cynthia Osterman Organizations: Bond, Columbia, Treasury, Apollo, Treasury Department, Government, Social, Research, Management, “, Pacific Investment Management Co, Thomson Locations: Wall, Boston

☆ Bond market divergence from Fed entrenched in U.S. yield forecasts
▼ + stars: | 2023-06-21 | by ( Sarupya Ganguly | ) www.reuters.com time to read: +3 min

Three-quarters of strategists, 15 of 20, who answered an extra question said the 2-year Treasury yield was unlikely to revisit its cycle peak over the coming three months. Only two of 27 respondents had the 2-year yield trading higher than the current level at the end of August. The benchmark 10-year note yield , meanwhile, was forecast to decline by much less, about 25 basis points over the coming six months. An inverted yield curve has historically been a reliable indicator of an oncoming recession but so far, having been inverted for almost a year, that has not happened. "Persistence of this configuration — continued growth along with above target inflation — will keep mild upward pressure on two-year and 10-year yields."

Persons: Jerome Powell, Bas Van Geffen, Robert Tipp, Sarupya Ganguly, Indradip Ghosh, Shaloo, Emelia Sithole Organizations: Reuters, Silicon Valley Bank, Rabobank, Fed, Thomson Locations: BENGALURU, Silicon

☆ Sonic world of animals: Listen to an extinct bird's mating call
▼ + stars: | 2023-04-26 | by ( Katie Hunt | ) edition.cnn.com time to read: +7 min

What’s sometimes lost in this feast for the eyes is the sonic world of animals — audible to humans in the case of birdsong. Source: British Library“Animals: Art, Science and Sound” showcases the British Library’s wildlife collection, which contains over 250,000 recordings of animals from around the world. Source: British LibraryThe species was declared extinct in 2000. The song of a nightingale Published by the Gramophone Company Ltd. in 1910, it was the first published recording of any animal. Source: British LibraryThe groundbreaking release marked the beginning of commercial wildlife recording that culminated in the 1970s.

☆ I tried Taco Bell's Beyond Meat quesadilla at the only place it's available in the US. The meatless 'steak' could've fooled me, and I now want to try it on everything.
▼ + stars: | 2022-12-13 | by ( Cassy Crabtree | ) www.businessinsider.com time to read: +6 min

I tried Taco Bell's Beyond Meat quesadilla at the only place it's available in the US. Cassy Crabtree tried Taco Bell's Beyond Carne Asada Steak Quesadilla. Cassy Crabtree On October 13, Taco Bell introduced its new Beyond Meat Carne Asada Steak Quesadilla. Taco Bell I visited my local Taco Bell in Tipp City, Ohio (a suburb of Dayton). I tried Taco Bell's Beyond Carne Asada Steak Quesadilla.

☆ There's one number that could be key to how markets trade right after the Fed meets
▼ + stars: | 2022-09-21 | by ( Patti Domm | In | ) www.cnbc.com time to read: +6 min

(A basis point equals 0.01 of a percent) Besides the rate hike, the market is intently focused on the terminal rate. Expectations for the Fed's terminal rate also soared. Before the August CPI report, the futures market was pricing in a terminal rate at just about 4% for next April. In the futures market, "the terminal rate went up 40 basis points in 24 hours," he said. But NatWest Markets expects the Fed could indeed have a terminal rate of 5%.

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