In this note, on both a theoretical and empirical basis, we explain what drives the US Treasuries yield curve and why market participants have faced so many “conundrums” over the last twenty years, and particularly in 2021.
In this note, on both a theoretical and empirical basis, we explain what drives the US Treasuries yield curve and why market participants have faced so many “conundrums” over the last twenty years, and particularly in 2021.