Global Markets Analyst_ The Many Facets of US Fiscal Risk Premia (Marshall_Zu_Abecasis)

5 November 2024 | 2:08PM EST Global Markets Analyst The Many Facets of US Fiscal Risk Premia (Marshall/Zu/Abecasis) n The US debt-to-GDP trajectory has shifted materially over the last five years and a range of other factors also justify higher long-end yields. But while long-term Treasury yields and measures of bond term premia sit above pre-pandemic levels, they are hardly extreme by historical standards. n We have previously observed a declining sensitivity of longer-term G10 yields to debt-to-GDP, in pa ...