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Jackie Bowie reviews the 10-year Treasury and interest rates on Bloomberg Daybreak Europe

November 1, 2023


Bloomberg Daybreak Europe interviews Jackie Bowie about the Bank of England's November interest rate decision. With the U.S. refunding announcement in focus alongside a headwind of geopolitical risk, there have been negative views impacting sentiment as more people are paying attention.

While Jackie highlights the potential for less issuance coming down the road from the U.S. Treasury and a bigger demand for the bond market, she advises to first look at how much bond yields have moved and how that has impacted tightening.

"If you look at what has happened over that 10-year yield over the last six months, it's been a pretty aggressive move. And in fact, that's what people are now focused on in thinking about what the Fed's message will be on the rate decision."

Jackie Bowie on Bloomberg Daybreak Europe

In addition to the bond market, there are other key data points, such as the labour market position, when looking at the forecast of interest rates.

While global economies are not yet in recession territory, the underlying message of "higher for longer" rates reduces the expectation that rate cuts will come next year.

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