Should Trump Give Reason to Fear a Bond Selloff?
Treasuries rallied back from a three-day rout as benchmark 10-year yields that surged past 2 percent in the aftermath of Donald Trump’s presidential election lured investors. Bonds advanced after plunging Wednesday on Trump’s victory as investors assessed how aggressively he will stimulate the economy and whether the Federal Reserve will pick up its pace of interest-rate increases. The U.S. plans to sell $15 billion of 30-year bonds Thursday, after yields jumped 23 basis points the day before, the most since October 2011. A 10-year auction drew bids for 2.22 times the amount available, the least since 2009. BNP Paribas Macro Strategist Michael Sneyd discusses market reaction with Anna Edwards and Yousef Gamal El-Din on "Bloomberg Daybreak: Europe."