US 10-year bond yields
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Historically, Singapore and the US 10-year bond yields have witnessed strong positive correlation. However, the recent rally in US 10-year bond yield above 2.9% (given better-than-expected jobs data) has changed historical correlation with Singapore 10-year bond yield. In fact, this correlation has turned negative in the past 7 days.
(Correlation as on Jun. 6, 2018)
Given the mean-reverting nature of yields, does this signify an opportunity to trade in the fixed income market?
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