US 10-year yields fall below 1.25% as CDC reports on rising US covid cases
Maybe it was the rising cases, maybe it was just a retracement
The CDC said the 7-day average of US covid cases is up 53% week-over-week. That was coupled with the CDC director saying some hospitals are reaching their capacity in some areas of the US.
Now, none of this was unknown. Anyone can look up US covid cases so I'm not sure it's the trigger. That said, I highlighted how precarious 10s were looking a short time ago.
So far the dip in yields isn't really spilling over into anything else but keep a close eye on it.