Tug-of-War

  • 19 Feb 2019
  • By Blu Putnam

Buyers and sellers are in a tug-of-war in the bond market, where yields have been declining. Are buyers sidestepping the budget deficit and other factors?

About the Presenter

Bluford “Blu” Putnam has served as Managing Director and Chief Economist of CME Group since May 2011. With more than 35 years of experience in the financial services industry and concentrations in central banking, investment research, and portfolio management, Blu serves as CME Group’s spokesperson on global economic conditions.

View more reports from Blu Putnam, Managing Director and Chief Economist of CME Group.

Treasury Yields 

The U.S. 10-Year Treasury yield has been declining amid the low risk of inflation heading higher. But do investors need to consider that the budget deficit is about $1 trillion a year, and the U.S. Treasury is issuing large amounts of short-term bills and will possibly issue long-term notes and bonds, too? Hedge your portfolio with futures and options. 

Start Hedging

CME Group is the world’s leading derivatives marketplace. The company is comprised of four Designated Contract Markets (DCMs). 
Further information on each exchange's rules and product listings can be found by clicking on the links to CME, CBOT, NYMEX and COMEX.

© 2025 CME Group Inc. All rights reserved.