The dollar has come back bid. A disappointing and unexpected increase in the US weekly jobless claims pressed yields lower, with the 10-year falling a two-week low and seemingly dragging the greenback with it. The greenback is trading higher against nearly all the major and emerging market currencies today amid heightened geopolitical risk, a stronger than expected rise in China's inflation gauges, and poor European industrial production data, despite the improvement in the PMI. The US 10-year yield is around five basis points higher at 1.67% and appears to be dragging European yields higher too. Equity markets have ... (full story)