
With the Pacific G10 Macro Rates Team
The summer markets settled in last week, helped by the 2-day holiday in Japan originally scheduled to coincide with the beginning of the Olympic Games
in Tokyo. Equities finished the week flat to slightly lower, the yield on 10y Treasury Bonds was 0.05% lower on a week with little volatility in other
G10 Government Bonds markets. Geopolitical tensions between the US and China triggered risk-off moves towards the end of the week, but the market reaction
remained muted.