Did Powell really reassure the markets? It is doubtful
The US 10 year yield rebounded by 15bp yesterday to 1.87%, as oil prices soared and the Fed Chairman spoke to members of the House…
Global stocks continue to rise and so do commodity prices and bond yields, while the Bitcoin is nearing $50000. Risky assets are pushed higher by a mix of confidence in the future economic recovery and speculation in a context of over-abundant liquidity. The reopening of US financial markets will test this optimism today. The EUR/USD is almost stable near 1.2130-40.
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