Due to some logistic frictions and likely to stabilize.
But this is worth a couple basis points drop in the ten year. Overnight or a few days and the Ten year is back up a couple of basis points. A tiny illustration of the petrodollar effect. When oil trade disruptions slow down oil purchases the money gets parked in the bond market.
Another:
Like a trilemma, petrodollar value is inverted with yields but also subject to oil flows. The Texas freeze also is a short term problem.
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