Return of the reflation trade?
Rising equities, the second biggest rise of the year in bond yields and a falling dollar seem to suggest that it was more optimism about global growth…
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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