After weeks of trading off Donald Trump and his tweets, markets got somewhat back to a more traditional steer yesterday, with sentiment moving on the mildly hawkish comments from Fed chair Janet Yellen. This has improved risk appetite again, with Treasury yields, the dollar and equities higher. In her testimony to the Senate Banking Committee yesterday, Yellen noted that the FOMC would need to hike rates again at one of the upcoming meetings if the data continued to trend as it has been doing so, and that it would be “unwise” to wait too long. The market has been pricing in just two rate hikes in 2017, compared to ... (full story)