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Calm before the Storm
The more prominent events this week still lie ahead, and the capital markets are trading accordingly. The rally that lifted the S&P 500 to new record highs yesterday carried over into Asia, where most equity markets rose, though China, Hong Kong, and South Korea were notable exceptions. European shares are struggling in the early going after the Dow Jones Stoxx 600 set new highs for the year yesterday. US equities are trading with a slightly softer bias in Europe. Benchmark 10-year bond yields are consolidating after Asia Pacific bonds played catch-up with the continued backing up in the US benchmark. Still, ... (full story)