The German 10-year rate rises above zero!
To the question we asked yesterday “Can the optimism be confirmed?”, the equity markets have given a positive answer, especially in the US. However, there…
The continued rise in bond yields (1.37% for the US 10-year) reflects market nervousness ahead of tomorrow’s ECB meeting and the release of the Fed’s Beige Book this evening.
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At the same time, the rebound of the USD reflects both this nervousness, but also the possibility that the anticipated tightening of ECB policy will be lighter than expected.
Japanese GDP growth was revised from +0.3% to +0.5% q/q in Q2. The economic calendar is still light today. The euro is trading below USD 1.184.