Société de recherche indépendante en macro-économie et stratégie d’investissement

The main development of late 2023 was the powerful bond market rally of October-December 2023, which resulted in a decline of almost 120bp in the US 10-year T-Note in just over two months (midOctober to end-December). This was one of the sharpest rallies recorded (third in intensity/day since 1986)...