Oil Prices Drop 3% as Global Economies Struggle
August 1, 2022Class CNBC Interview 8/2/22
August 2, 2022Investors seek the perceived safety of US government debt, pushing Treasury yields down and maintaining the 2yr-10yr curve inversion while flattening the 3m-10yr segment. The 10-year yield reaches 2.552%, down from 2.605% Monday and the two-year falls to 2.823% from 2.909%. The three-month yield is one of the few maturities on the rise, at 2.433% from 2.337% Monday. “Yields are lower…on geopolitical and economic activity concerns,” Spartan’s Peter Cardillo says in a note to clients. House Speaker Nancy Pelosi’s visit to Taiwan sparks fears of heightened tensions between Beijing and Washington, at a time when the economy is weakening amid higher interest rates.