Opinion
What US Treasury volatility means for the economy
The bond market’s adjustment to the prospects of significantly higher debt sales by the US government is likely to have a lasting effect.
Mohamed El-ErianGlobal financial commentatorLast week’s sharp moves in the US government bond market have people wondering about the implications not only for the outlook for other financial assets, including stocks, but also for the economy and policy. Here are my main takeaways and their consequences.
The volatility last week differed from that of 2022 and earlier this year because it was driven not by the policy-sensitive short end of the yield curve (such as the two-year Treasury) but by the longer-dated bonds.
Bloomberg Opinion
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