Reply To: Traders Market Weekly: Expect the Unexpected

#45647
Truman
Participant

The stock market gave back all of its opening gains and continues to crack lower

The 10-yr UK gilt yield, which was at 3.94% a short time ago, is up six basis points to 4.27%. This occurred following Prime Minister Truss giving a press conference where she confirmed the government’s plan to cut corporate taxes. The British pound came off its overnight high at the same time (GBP/USD -1.3% to 1.1188).

Treasury yields are also climbing with the 10-yr note yield up three basis points to 3.98% and the 2-yr note yield up one basis point to 4.46%.