Keeping up with Bonds

bee

Like clockwork this week, as soon as the New York trading session has gotten underway, 30-year Treasuries have jumped.

Despite barely budging during the Asia and London trading sessions -- home to some of the bigger buyers of longer-dated Treasuries -- 30-year yields have dropped an average of five basis points each day this week between 7 a.m. and noon New York time.

A Red-Hot Treasury Trade Starts to Unwind Every New York Morning
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and,

The Treasury yield curve steepened to the widest in two months after Federal Reserve Chairman Jerome Powell announced a shift to a more relaxed approach on inflation.

Powell said Thursday that the central bank will seek inflation that averages 2% over time, a level officials have failed to attain consistently in recent years. He said the move reflects “our appreciation for the benefits of a strong labor market, particularly for many in low- and moderate-income communities.”

Bond Traders See ‘Green Light’ to Keep Driving the Curve Steeper
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WABAC

“The concern even ahead of this announcement from Powell is how they are going to be able to credibly achieve the 2% inflation averaging given for years they haven’t been able to achieve 2% on a consistent basis,” Rajappa said.

Drop lots of Jacksons from airplanes.

carew388

Or lots of Grants or Benjamins !