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Dollar and yields slip as US CPI inflation looms
Markets are continuing to react to Trump’s decision to pull the US out of the Iranian sanctions waiver, however, it is very interesting to see there has not been a significant safe haven flow that has arisen, in fact risk appetite is looking quite positive. The yen is underperforming across the forex majors, whilst there has been little pick up in gold, and Treasury yields have risen. The VIX index of options volatility has reacted lower and equities have bounced. The move higher on the oil price is a key theme through these moves and this is an inflationary aspect to the rise in yields, with the US 10 year yield ... (full story)