Time spreads correct as US treasury yields rise sharply
Brent prompt future contract came back to 66.2 $/b as a significant selloff in the US bond market strengthened the dollar, pushing dollar-denominated commodities lower.…
The Fed expressed more optimism about economic prospects, no worry about raising bond yields and saw no need to hike rates before 2024. The markets’ reaction was rather calm, but the USD plunged and the EUR/USD exchange rate rebounded unexpectedly from 1.19 to 1.1980.
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