The 30-year swap is pointing toward greater risk in U.S. Treasury funding as trade and fiscal policies suggest higher inflation, rising interest rates and growing government deficits to fund a large tax cut. … READ MORE >
Treasury spread
Rising uncertainty stimulating a flight to cash
With the U.S. two-year yield now exceeding 5% and the Federal Reserve’s repo facility offering a return of 4.5%, capital is flowing into short-term securities in search of safety and yield. … READ MORE >