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US Bonds Fighting Against European Weakness

US Bonds Fighting Against European Weakness

The message from today's overnight trading session is clear: European yields have broken well above their most recent ceiling after hotter inflation data in Spain and France.  That ceiling had seen similar activity to the US version at 3.98% in 10yr yields.  Today begins with US bonds fighting to stay inside the sort of range that EU yields just abandoned.

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In other news, home price indices were updated for both FHFA and Case Shiller this morning.  No major surprises.  Annual totals remain in positive territory.  Monthly changes are slightly negative.

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US Bonds Fighting Against European Weakness
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