Report published August 26, 2026
Mizuho Multi-Asset Strategy Daily: Global Duration Buying and Rates Outlook (August 26, 2026)
Source and citation context
- Issuer
- Mizuho Securities
- Report date
- August 26, 2026
- Analysis as of
- Not stated in source
Authors / editors: Evelyne Gomez
Finvaulta summarizes Mizuho Securities's analysis. Attribute opinions, forecasts, time-sensitive values, and chronology to the issuer and report date; do not treat this page as an independent verification or a current market-data source.
Lower oil prices following Iran-Oman discussions over a Hormuz shipping corridor sparked a global sovereign duration rally. Mizuho views chasing the USD rates rally ahead of Jackson Hole as unappealing, preferring to tactically trade the 4.60-4.75% 10Y UST yield range.
Key Takeaways
- 1.Discussions between Iran and Oman over a temporary shipping corridor through Hormuz led to a sharp decline in crude oil, triggering a global duration rally.
- 2.In USD rates, the risk-reward to chase the duration rally ahead of Jackson Hole is unappealing; tactical bias is to trade within the 4.60-4.75% 10Y UST yield range.
- 3.In Europe, energy prices rather than domestic data drive ECB pricing, and the sell-off in European sovereign bonds should be faded with 10Y Bund yields below 3.20%.
Table of Contents
- USD
- EUR
- GBP
- JPY
- Important Information
- Disclaimer
Report data
Key figures extracted from this report
| Metric | Estimate | Context |
|---|---|---|
| Brent Crude Price | 87 $/bbl | Crude oil price holding onto Tuesday's decline amid Hormuz corridor negotiations. |
| 10Y UST Yield Tactical Range | 4.60-4.75% | Target tactical range for US 10Y Treasury yields ahead of Jackson Hole. |
| 10Y German Bund Yield | 3.20% | 10Y Bund yield pulled back below 3.20% following oil drop. |
| US 5Y Treasury Auction Size | 70 USD billion | Upcoming 5-year UST auction scheduled for today. |
| German Long-End DBR Supply | 2 EUR billion | German sovereign bond supply scheduled for today. |
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Multi-Asset Strategy Daily is shown in chronological order through this edition, published on August 26, 2026.
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Authors / Editors
Reported Data Context
- Brent Crude Price: 87 $/bbl (Current)
- 10Y UST Yield Tactical Range: 4.60-4.75 % (Near-term / Tactical)
- 10Y German Bund Yield: 3.20 % (Current)
- US 5Y Treasury Auction Size: 70 USD billion (Today)
- German Long-End DBR Supply: 2 EUR billion (Today)
Securities
Themes
Regions
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