Term premium has jumped in recent weeks to levels not seen in more than a decade, triggering a fresh sell-off in U.S. Treasuries and pushing Treasury yields to their highest level in 24 years, according to a ChainCatcher report. Frank Rybinski, head of macro strategy at Aegon Asset Management, said the rise in term premium suggests the market move has staying power rather than being a short-lived fluctuation. Barclays said the recent increase has been driven by a combination of factors, including macroeconomic uncertainty and a growing supply of bonds. The report centers on how higher term premium has become a key force behind the latest move in the Treasury market.
Term premium has climbed in recent weeks to levels not seen in more than a decade, setting off a new round of selling in U.S. Treasuries and lifting Treasury yields to their highest point in 24 years, according to ChainCatcher.
Frank Rybinski, head of macro strategy at Aegon Asset Management, said the rise in term premium shows the market move has persistence.
Barclays said the recent increase was driven by a mix of macroeconomic uncertainty and a larger supply of bonds.
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