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Reflections #23 - US long-end yields to catch up with front-end?

US long end yields look too low relative to the move in the front-end following the FOMC. As the long end has stubbornly priced in a stronger economic downturn with an ensuing Fed pivot, yesterday's FOMC meeting made it pretty clear, that this is too early.

Watch out for a break above the trendline which would target the March23 highs around 4.08/4.10%. USD to also catch a bid then?


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