Jakobsen: The Market is Playing on Momentum and Yield
At an auction of benchmark 10-year Treasuries on Wednesday, global investors sent a clear message to the $13.4 trillion market: They’re still interested. Even as the $23 billion offering drew a yield of 1.503 percent, the lowest in four years for the maturity, demand from a group of buyers that includes foreign central banks and mutual funds was near record levels. Buyers were also keen on Tuesday’s three-year note sale, which drew the strongest demand of 2016. Treasuries extended gains after the 10-year auction, joining a rally in global bonds. Saxo Bank CIO Steen Jakobsen discusses with "On the Move" hosts Guy Johnson in London and Caroline Hyde in Berlin.
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