(1) Weekly absolute value level correlation with US10s; Source: Bloomberg, TD Securities
6
Copper
5
USD
4
EMFX
3
SPX
2
CNY
1
$IG
3
US2y
2
Oil
1
Gold
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Click the legend entries to see the correlations
1.0
0.8
0.6
0.4
0.2
0.0
Correlation with US10s over the last decade
0.0
0.2
0.4
0.6
0.8
1.0
Correlation with US10s in 2023H2
Normal Correlations
Basically
US Duration trades now
3
2
1
6
5
4
3
2
1
(1)
We Are All Treasury Traders at the Moment