“Here’s the message from the bond market: keep your shirt on.”
– Joy Wiltermuth, writing for MarketWatch, February 9, 2025
The Through Line: Equity markets are often the first place investors look for hints as to how a breaking news item will be perceived. Yet bond markets can serve as a more insightful gauge to measure an event’s potential impact on economic outcomes. Watching the yield and price movements of intermediate‑term bonds such as the U.S. 10‑year Treasury note, for example, can offer keen insights into how impactful the nation’s creditors believe various happenings may ultimately be.
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