- US 2Y Treasury: ~4.00%
- US 10Y Treasury: ~4.35%–4.40%
- German Bund (10Y): ~2.55%
Key Takeaways
- Yields have moved higher again, driven by oil
- No meaningful repricing toward aggressive rate cuts
- Inflation expectations are re-accelerating
➡️ Market pricing reflects:
“Higher-for-longer + energy premium”
Implication:
Duration risk remains skewed toward higher yields