CITIC Securities said in a research note that long-dated U.S. Treasury yields
have risen since June and, despite a recent pullback after repeated Treasury
support signals and Aug. 25 progress in Strait of Hormuz passage talks, the
earlier rapid rise was driven by U.S. fiscal pressure, heavier corporate bond
supply and rising inflation risk. The firm expects long-end UST yields to remain
elevated in the near term.
