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US Dollar continues to edge lower with FOMC poised on the horizon
There is something of a dichotomy in major markets right now at the traditional correlation between bond markets and equities has at least temporarily become misaligned. The 10 year Treasury yield fell below 2.60% on Friday to its lowest level since early January. Falling bond yields tend to be a sign of negative sentiment through markets, however Wall Street broke out on Friday with the S&P 500 closing at its highest level since October. What is driving this move? The Federal Reserve monetary policy decision is on Wednesday and after a run of disappointing US data, the expectation is that the Fed’s recent ... (full story)