Fed’s Waller says safety premium for Treasuries is gone, pushing neutr

desk brief, Thu 03 Sep 2026

Treasuries (close 2026-09-02): 2s 4.39% (+0.0bp), 10s 4.79% (+0.0bp), 30s 5.27% (+0.0bp).

Tape (close 2026-09-02): VIX 15.2, 2s10s +43bp.

Narrative: Global bond yields fall after Fed governor says he may back holding rates steady

What mattered:

• Fed’s Waller says safety premium for Treasuries is gone, pushing neutral rate higher
• Global bond yields fall after Fed governor says he may back holding rates steady
• Fed's Waller channels his inner John Lennon with a plea to 'give disinflation a chance'
• Fed's Waller: Maybe doesn't mean you walk off a cliff, but yields may go up.
• Fed's Waller: If that reverses in august willing to pull trigger on rate hike.