By Michael Msika and Jan-Patrick Barnert, Bloomberg Markets Live reporters and strategists
A sharp retreat by investors from the US dollar and longer-dated Treasuries is slamming the brakes on equities’ V-shaped recovery rally. Regaining momentum could prove a struggle.
The yield curve is back in focus after a difficult US bond auction. The 10-year has hit the 4.6% mark, while everything maturing in 2040 and beyond is already yielding a solid 5%. Once again, it’s the speed of this month’s move that is sparking concerns.
