No. of Recommendations: 4
Lest the mention of inauguration day seem political, this site pretty much agrees with the numbers you quote, and also shows that sharp moves are not infrequent
https://tradingeconomics.com/united-states/currenc...But the 'falling off a cliff' nature of the most recent part of the curve resonates with today's FT headline "Liquidity worsens in $29tn Treasury market as volatility soars", with their graph showing a bigly surge in yield of ten year and of thirty year U.S. bonds. If you squint, the currency curve looks pretty pandemic-like, where the Fed had to step in to preserve liquidity (the president of the Boston Fed was quoted in today's NTtimes as basically say "all is cool, but if not, we're here"). Gillian Tett has posted a couple of times in the FT about a possible contribution from very highly leveraged 'basis trades' on treasuries placed by hedge firms of an estimated trillion plus dollars, that are not going the way they had planned, and so they're trying to unwind them
https://www.ft.com/content/d5986c38-6c60-4869-b28a...I've frankly paid little attention to currency and related implications in the past, in terms of my portfolio. Perhaps because I'm in the U.S, the dollar was the reserve currency, and U.S. treasuries were the haven in a 'flight to safety'.
But that may be changing.
Peachy.
