Citi’s Dirk Willer says keeping the 30-year Treasury yield below 5.30% could create downside pressure on the US dollar

Citi has removed its underweight position in Treasuries following Treasury Secretary Scott Bessent’s buyback announcement. The firm has also bought gold and remains short the dollar. Willer added that asset-swap spreads remain relatively calm, despite being an area where US fiscal concerns would typically become most visible.