The divergence between key fixed-income benchmarks shows - more specifically - that the US is on a healthier endogenous growth path compared with Europe in early trading - Wednesday - which had reached a level only three times since the start of 2020 - this has risen to nearly 200 basis points in favor of the US, as shown in the chart below - the lowest in the past three years of 90 basis points and just short of the high of 214 basis points. Source