The interest rate market is bucking the trend🤔

On the rates front, while Thursday’s scenario is similar to Wednesday’s market sell-off (ECB on Thursday (hawkish on pause) vs Bank of Canada on Wednesday (hawkish on pause)), there is strong GDP data on Thursday vs German IFO on Wednesday data and new home sales numbers beating expectations, etc.), the interest rate market has taken the complete opposite stance because... Most of the time, markets exist to inflict maximum pain on traders. Opposite positioning and short-covering pressure may have also pushed bond prices higher, pushing mid-term yields about 10 basis points lower, reversing much of yesterday's move. The ECB meeting left a largely hawkish impression, with President Lagarde acknowledging that long-term interest rates had "clearly risen" but not making it clear that the Governing Council was dissatisfied with this development. In the United States, the 7-year government bond auction received an enthusiastic response (did not deviate from market expectations), with a subscription ratio of 2.7 times, the strongest performance since March 2020, and only 11% of the government bonds are held by brokers, which is far lower That helped Treasury yields close at the day's lows.

#收益率 #欧洲央行 #美国公债 #拍卖 #市场反应