Markets: a very quiet rally

Bonds move first. Equities follow. The dollar barely notices.

By Priya Rangan

The Field— 5 —

Page 5 of 14 · The printed source, preserved.

The Field

Markets: a very quiet rally

Bonds move first. Equities follow. The dollar barely notices.

By Priya Rangan 5 min readPage 5

The tape told the same story three times over. Ten-year yields dropped fourteen basis points. The S&P closed at a record. The dollar index moved less than half a percent.

This week — The 10-year yield curve, six months apart.

January — The 10-year yield curve, six months apart.

"It is the rally you get when nobody wants to admit they are relieved."
— Priya Rangan