The us yields are rising again
The Central event of yesterday on the world markets – the growth of yield US Treasures. Yields on 10-year U.S. government bonds exceeded 3.2% is the maximum for 7.5 years. The yield on 2-year US Treasures has risen in the district, 2.9%, and the post-crisis high. Nothing surprising in this: the U.S. Federal reserve continues to look in the direction of tightening monetary policy.
Market participants expect a further tightening rates this year (based on the quotations of futures, the probability of this event is 80%) and 2-3 rate increase in 2019. Starting in October, the Federal reserve’s programme of quantitative tightening will be monthly to withdraw from the system $50 billion.
The growth of yield US Treasures slowed in the second half of September. This pause in the currencies of developing countries used for recovery. But the stop was short-lived – the demand for U.S. Treasury bonds continues to be high. In global markets continuing flow of funds “to quality” from risky assets. Against this background, foreign exchange and stock markets, and the currencies of developing countries are likely to be under pressure. In such circumstances, may be renewed and the weakening of the ruble, the rollback of the pair dollar/ruble below 65 rubles. not worth waiting.