attm

I believe it's mainly from the selling pressure from China. Your logic is mostly right, but how can you explain German bund yield up like crazy in the meantime (carry trade makes both sides sink)?
回复 13# Start123

attm

after all, the cross currency rates spread is equivalent to the forward/spot fx spread.
I mean if the carry trade keeps going on it will knock the euro and US treasury yield and support the bund yield; or the other way around when people are unwinding this carry trade position. But in either way, we should not see both UST and bund yield are increasing. And that's why I said carry trade is not the main reason for this treasury selloff.
回复 21# Start123