Yo-Yo Yields

The bond market overreacted to inflation fears in June and yields overshot on the topside. July was a complete reversal (and some) as growth fears escalated and yields overshot on the downside. Bond market volatility should remain high until there is better clarity on inflation, central bank terminal rates and how deep the impending recession will be, and this will continue to impact all asset class.Participants: Jason Daw (Desk Strategy), Head of North America Rates StrategySimon Deeley (Desk Strategy), Canada Rates StrategistBlake Gwinn (Desk Strategy), Head of US Rates StrategyAdam Cole (Desk Strategy), Chief Currency StrategistDaria Parkhomenko (Desk Strategy), FX Strategist* Research Analyst opinions are their published views, independent of those expressed by Desk Analysts