A bit of a rethink before the weekend?

After the US CPI data showed signs of inflation pressures easing slightly, it seemed quite straightforward that market players went with selling the dollar as yields dropped and risk trades rallied. But the bond market seemed to have other ideas yesterday as yields pulled back up and that is causing a bit of a rethink ahead of the weekend.

10-year Treasury yields moved up to contest the 100-day moving average once again as bonds were offered and that saw gains in equities tempered while dollar weakness was also more measured, all things considered.

Steve Walker

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