Rates Spark: Messy It Remains

2025-04-08 04:25:00 ET

Summary

• The most severe concerns around the spreading market turmoil have ebbed somewhat, allowing long-end rates to move higher again.
• But uncertainly lingers, keeping risk appetite at bay and markets positioned for more central bank cuts – we maintain a bullish bias in rates for now.
• The plumbing of financial markets is holding despite some signs of stress.

By Padhraic Garvey, CFA | Benjamin Schroeder | Michiel Tukker

Dollar exposure's getting pushed and pulled in a still whippy market

We make the argumentation for the US 10yr to break down to 3.5% here , and why it's likely to revert then higher again. Beyond that, there are three factors to latch on to....

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