Treasury Market Crawls Out of YTD Negative Return Territory

Nov 30, 2023

∙ Paid

Highlights

• Treasuries rally as the peak in inflation and rates are in the rear-view mirror…

• … and will continue to do so as the bearish bets in the futures/options pits close

• Upward revision to real GDP was accompanied by a much softer real GDI print (running negative on a year-over-year basis)

• Beige Book confirms that the strong Q3 print in economic activity was simply an aberration