MUFG: Global Duration Selloff Intensifies as Oil and Data Reprice Rates
The US 2-year yield is up around 60bp this month, close to the move seen in March, as strong September PMIs, hawkish Fed commentary and renewed oil strength reinforce tightening expectations. Brent has rebounded nearly 6% from yesterday’s lows after Iran’s UN speech, while reports of a possible US diesel export ban hav