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Key data tests to bullish sentiment coming up
US PPI is the first key test for bullish sentiment since the dovish Fed and weaker jobs data US yields have been more range-bound over the past few sessions as the bullish run following the more dovish Fed and the relatively weaker payrolls report has now petered out with 10Y UST yields just below 4.5%. Overall however, investors still seem more confident about bullish bets as also highlighted by bond fund inflows over the past few week as data in aggregate, apart from inflation, has been coming in softer. But inflation remains key for any wider rally we think with current sentiment about to be tested by this ... (full story)