Bond Market Turmoil Eases As Labour Markets Slow
A fragile sense of calm is returning to financial markets this morning as investors revert to betting on an aggressive easing cycle from the Federal Reserve. The yield on the 30-year US Treasury is back down to 4.88 percent after flirting with the 5-percent threshold, long-dated bonds in both the UK and Japan are coming off levels last hit in the nineties, and spreads within the euro area are contracting, pointing to an easing in funding concerns. North American equity futures are pointing to a mildly-positive open, and the dollar is holding steady against its major counterparts ahead of tomorrow’s...