Weekly Strategy Perspectives - Tracking the 10-year

Week Ending 08-01-2025. The Through Line: Global bond markets have been sending thought-provoking signals all year for those paying attention. They’ve hinted displeasure at mounting government deficits. They’ve waffled between optimism in stronger-than-expected growth to caution over the hit economies could take from accelerating trade wars. Decoding those messages is useful for all investors as yields on longer-dated sovereign debt can deliver more nuanced insight into an economy’s long-term trajectory than shifts in central bank policy.