Banks Skid On “Cheap” Treasuries Bid As Chinese Currency Collapse Continues

Tuesday, November 15, 2016
By Paul Martin

by Tyler Durden
ZeroHedge.com
Nov 15, 2016

With US Treasury yields spiking to extreme ‘cheapness’ relative to Japanese and German bonds (and stock dividends) it seems a ‘value’ bid has re-emerged, sparking a notable drop in long-end yields (despite the ongoing collapse in the Yuan to fresh record lows). The Treasury bid is flattening the curve dramatically which in turn is knocking the exuberance out of the ridiculous spike in bank stocks.

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