Three Bumps In The Road For U.S. Treasury Holders

After a month of dovish talk and low volatility, U.S. Treasury bondholders may have fallen into a false sense of security, according to an editorial from Societe General. Weak Q2 results were no worse than expected, and have mostly been priced into the market already, but we are about to get three new reports that could upend all that complacency. U.S. Treasury longs to get hurt this summer The ISM (Institute for Supply Management) and NFP (non-farm payrolls) reports are due next week and the news probably won’t be positive. “Job creation this year has outpaced GDP growth,” says Vincent…