Carlsquare/Vontobel weekly trading note: US interest rates are in a tug-of-war
Prenumeration
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This week's case focuses on the direction of U.S. Treasury yield rates, which are moving higher due to rising energy prices and tariffs, yet lower due to a weaker U.S. labour market.
The interest rate on ten-year U.S. government bonds is struggling to find direction. This is due to the continued increase in U.S. government debt, the inflationary effects of tariffs imposed by President Trump, and the U.S.-Israeli military attack on Iran, which resulted in higher oil prices. Meanwhile, a softening U.S. labor market is hindering any significant interest rate hikes. However, concerns about credit are more closely linked to corporate bonds in the U.S. tech sector.
Since the military attack on Iran began on Saturday, February 28, European stock markets, as well as the S&P 500 and Nasdaq, have taken a severe hit.
Please find out more in our weekly letter on certificates Vontobel.com: Read the weekly newsletter here
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