Goldman Sachs Global Rates Trader: Back to the Front End
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This edition of Goldman Sachs' Global Rates Trader, titled Back to the Front End, is presented as a six-chart pack. The lead exhibit shows that the US Treasury market's reaction to Chair Warsh's Jackson Hole speech resembled its response to the June FOMC meeting. A second chart tracks the Canadian dollar curve, which shifted higher during episodes of tariff escalation and fell back during de-escalation, a pattern the pack notes echoes last year's moves. Two further exhibits lay out single-currency (outright) spreads and curve spreads across markets. A fifth chart presents Goldman Sachs' forecasts for G10 10-year government bond yields, summarizing the house view across major bond markets, and the pack closes with the Global Rates Trader summary page. As a group, the charts direct attention toward the front end of curves and to how Fed communication and tariff headlines have been shaping rates markets and cross-market spread price action.
Key exhibits
Exhibit 1
Exhibit 2
Exhibit 3
Exhibit 4
Exhibit 5
Exhibit 6
