Asks Michael Ball to interpret Kevin Hassett's comments on lower job numbers amid other factors pushing yields higher.
Dani Burger
Michael Ball
Hassett is talking about demographic shifts setting a new norm for slower job growth (around 40k-60k), not necessarily worrying news.
Questions why the 'debasement trade' isn't materializing, with 10-year yields still under 4.22%.
Matt Miller
Michael Ball
Auction data shows no flashing worries. China's reduction in Treasury holdings looks like regulatory risk management, not a geopolitical message. China wants lending to boost its domestic consumer economy.