Market anticipates ECB monetary tightening
Over the last two days, the German 10 year bond yield has increased by 7bp while the US 10 year is only up 3bp and…
Bond yields have rebounded, equities as well and the USD has lost some ground, the EUR/USD exchange rate returning above 1.19… before falling back below this morning. Fed speakers have in general been reassuring about inflation, but their speeches show different opinions. The market seems a bit lost and does not really know what to make of the last Fed meeting.
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