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Weak demand for US 7-year treasuries sent Wall Street indices lower on Wednesday, on concerns that funding the US deficit will drive up yields alongside ‘higher for longer’ Fed rates. And that manifested with a higher US yields curve and a stronger USD, which enjoyed at strongest daily performance in over a month. This week I have warned of a potential ...
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The yen fell through a level that prompted the latest round of suspected action by Japan to prop up the currency, underscoring the limited impact of intervening in the market. The currency traded at 157.64 per dollar as of 8:20 a.m. in Tokyo on Thursday, beyond the closely watched mark of 157.52, where the yen strengthened dramatically on May 1. Japanese ...
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