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Special topic: favorable policies and economic recovery form a resonance market, which is expected to open the second wave of upward trend
After an official of the Federal Reserve mentioned the possibility of raising interest rates, the rebound of the US treasury market came to an abrupt end,
John Williams, the governor of the New York Federal Reserve, answered questions at a meeting in Washington and said that another interest rate increase was not his basic expectation. But he added, "If the data reminds us that we need to raise interest rates to achieve our goals, then we obviously want to do so."
The yield of two-year treasury bonds once rose by 5 basis points to about 4.99%, close to the high end of the recent fluctuation range.
"The yield of US treasury bonds has gone through a cycle and has risen to the level a few months ago," Aoifinn Devitt, chief global market strategist of Moneta, said on TV.
In the face of strong economic data and Fed officials' speeches, Wall Street fund managers and strategists have had to rethink their assumptions about the interest rate outlook in the past two weeks.
On Thursday, the swap rate market predicted that the cumulative interest rate cut would be 38 basis points by the December meeting, which was less than the 43 basis points predicted at the close of Wednesday. The forecast of 25 basis points interest rate cut in November still exists.
However, the probability of interest rate increase reflected by the market price is still close to zero.
Data show that the United States National debt index So far this month, it has fallen by nearly 2%, giving back the 1.3% increase in March.
However, some Wall Street people, including Kelsey Berro of JPMorgan Asset Management, believe that the rise in yield provides a buying opportunity. In fact, investors flocked to subscribe to 20-year treasury bonds on Wednesday.
She said, "We believe that the further increase in yield is limited, because the Federal Reserve still believes that it has done enough.".
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