The worth of has fallen under $26,300 since June 10, reflecting a 14.8% correction in two months. In the meantime, the Nasdaq tech inventory index has gained 13.6% over the identical interval, indicating that traders aren’t precisely fleeing to the protection of money and short-term debt. In truth, demand for US authorities bonds has been declining for six weeks.
The yield on two-year US Treasuries, for instance, fell from 3.80% on Could 4 to 4.68% on June 14. If the investor believes inflation will proceed above goal, these members are likely to demand the next yield when buying and selling bonds.
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