Rising oil prices reinforce inflationary fears
Brent prompt prices are above $70/b ahead of the OPEC+ meeting (see the Daily Oil), which pushes inflation expectations and bond yields higher. Gold prices…
Asian stocks retreated as US bond yields continued their upward trajectory, with the 10Y Treasury note solidified at a 1.73% yield, discounting future cash flows for growth stocks. The Eurodollar’s weakening continues, at 1.707 while the Yen depreciated by 0.5%.
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