Credit Agricole bought two-year US treasury bond bonds, betting that high oil prices and financing costs will drag down the US economy

Amundi, with assets under management of US $2.8 trillion, began to buy two-year US treasury bond bonds and offset its short position on US short-term interest rates. Portfolio manager Nicolas Dahan believes that the rise in oil prices to $100 per barrel and soaring financing costs increase the risk of a slowdown in the US economy. When the yield of two-year US treasury bond rose to more than 4.50%, the appeal of their safe haven assets increased. Amundi is reallocating bonds in the US, Europe and UK markets and lengthening the duration of the portfolio.