Bloomberg Surveillance · Friday, August 7, 2026
The US Treasury market has experienced an unusually tight range in ten-year yields over the past 400 days, the narrowest on record, suggesting a deliberate effort to limit volatility. This stability, even in the face of the Fed's recent communications, has seen yields remain muted.
“So it's we're four hundred days since Trump two point zero started in January of twenty five. That four hundred day period, the range of the ten ure yields eighty five basis points. It's the low list four hundred day range in history, go back as long as you want.”
“Bonvall is very very muted right here right. I think when you look at what the reaction function from Treasury or from the administration has been his or I think the goal is to limit Bonvall preserve optionality.”
“So you think so, But the market's response has been entirely different thus storm. I mean, even from the Fed last week, two year yield are lower and higher. Thirty year yield is flat.”