bond-yields-technical-anomaly-or-economic-fundamentals

Bond yields: technical anomaly or economic fundamentals?

Ralf Preusser of Deutsche Bank and Robert Lind of ABN AMRO discuss whether last week's soaring bond yields were caused by market manoeuvrings or a robust macro-economic environment.
Ralf Preusser, head of European rates strategy at Deutsche Bank, and Robert Lind, head of macro research at ABN AMRO, share their opinions on last weekÆs soaring bond yields.

Ralf Preusser

We believe the rather dramatic moves on Thursday were mainly driven by market technicals. Because there was no economic data released last week that could have triggered such a significant move, we have to look elsewhere to explain what happened.

Indeed, there has been a slow-burn factor of stronger macro data globally and in the US. So, for example, we havenÆt seen a significant spill-over of housing market weakness into the wider economy or even to the consumer. Also, the capex weakness...
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