UBS: The rise in US bonds before this rate cut is more pronounced than in previous cycles

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On September 10, Jinshi Data reported that Emmanouil Karimalis, a strategist at UBS, pointed out in a report that the recent trends in US Treasuries and the yield curve seem more pronounced compared to historical averages and medians before the Fed is expected to cut rates on September 18. "The bond market usually rebounds when the Fed cuts rates, but compared to past cycles, the recent rebound has been larger, with the 10-year (US Treasury) seeing its biggest gain in recent history over the past month," he said. He also indicated that market pricing seems to be higher compared to the Fed's last three rate-cutting cycles. According to Tradeweb data, the yield on 10-year US Treasuries is currently at 3.717%, down 23 basis points in the past month.

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