US job report: a test for the bond market
Equity markets continue to yo-yo: as expected, they rebounded in the US, but European markets adjusted on the previous day’s US decline. It seems that…
The US Treasury bond yield is now trading above 1.6%, while the ECB has managed to stop the increase in the euro area. In this context, the EUR/USD pair remains under downward pressure but not as much as we could have thought: it is trading around 1.1930 this morning. Chinese economic reports showed activity sharply up yoy due to a huge basis effect. A closer look at the figures shows that industrial activity is robust, consumer spending and investment much less.
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