Less growth in the US, more inflation in Europe and still the Covid in China
Spectacular decline in bond yields: the US 10-year ended the week at 2.88%. It was at 3.47% in mid-June. The German Bund fell from 1.76% to…
The yearly growth rate in home prices is close to a 15-year high in the US and consumer confidence is showing signs of weakening. US bond yields have continued to fall and the USD to weaken: the EUR/USD exchange rate climbed above 1.2250 and the highest level of the year so far (1.2349) may be the next target. Sharp improvement in French business confidence in May.
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