Sentiment on the passage of the US stimulus law pushed yields of Government Securities (SUN) to rise again at the start of the week. Last Saturday (06/03), the US Senate passed a fiscal stimulus bill worth USD 1.9 trillion. This endorsement comes a day after the release of US jobs data showing that the US economy is starting to create more jobs than the previous month. The economic recovery, faster than expected, also came from China. China’s exports for the January-February 2021 period grew up to 60.6% YoY. Meanwhile, imports, grew 22.2% YoY in the same period. The faster economic recovery, provides further opportunities for interest rate hikes. From the SUN market, yield inversion is still happening with the 10-year benchmark FR0087 and 15-year FR0088, at the level of 6.76% and 6.43%, respectively.
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