Bond yields continue to rise in the US

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.