“I think the big story that hasn’t been talked about last week is the movement of yields, which has been pretty even across the markets.” This is what the chief economist of Allianz Mohammed El-Erian said, speaking on Cnbc’s “Squawk Box” broadcast.
El-Erian referred to the recovery in US Treasury rates, which continues today.
The 30-year rates, in particular, have caught up and exceeded the 2% threshold.
“The bond market is starting to smell something that the stock market has not yet realized, otherwise we would have seen different movements,” said the economist.
On Friday, 10-year Treasury rates broke the 1.4% mark for the first time since mid-July, and today broke the 1.5% mark, reaching a three-month high.
In his speech earlier today, New York Fed Chairman John Williams said that “the US economy is close to hitting the standard of ‘further significant progress’ that we launched last December as a target to begin tapering. our asset purchases “.
Anticipation for the speech of Jerome Powell, number one of the Federal Reserve, who will speak tomorrow at a hearing in the Senate and then on Wednesday at the Central Banks Forum organized by the ECB.