Svmuu News Goldman Sachs Strategists noted in a report that the oil price shock has caused a sudden shift in the interest rate market, which has begun trading on a hawkish policy trajectory. They stated that the overall upside risk to inflation has gained the upper hand over growth concerns, while the resurgence of supply-side volatility has undermined the value of duration hedging that had previously reemerged.“Although last Friday’s weak (U.S.) jobs report provided some support to the front end of the curve, the market’s reaction to the weaker-than-expected data was notably muted."Strategists noted that despite the volatility, the absolute level of the 10-year U.S. Treasury yield is not unreasonable; longer-term forward rates remain broadly appropriate and are consistent with cross-country longer-term growth expectations." (Jin Shi)