Treasury Yield Gains This Month Approaching Peak, JPMorgan Says

According to JPMorgan Chase as of May 18, Treasury yield gains this month may be approaching a peak. The bank’s analysts stated that risks no longer favor higher yields, citing that money market pricing reflects a more hawkish policy outcome than their base case and valuations have adjusted. Long-term bonds appear undervalued, and JPMorgan suggested rising duration exposure presents a buying opportunity.