US bond yields continue to hike ahead of Biden’s speech

The fallout of one family office forced to liquidate $20 billion continued to have effects on its financial counterparts such as Nomura or Credit Suisse. Asian equity prices saw a limited upside as gains were capped for the banking sector. China’s CSI300 index saw a 0.2% increase while the Nikkei was off 0.1%. In the US, the Dow Jones had a more upbeat trajectory, expanding by 0.3%, as the pace of the vaccination campaign in the US continues to defy expectations. The 10Y US Treasury yield reached 1.73% yesterday, back on its upward trajectory, as the US administration continued to point towards political and economic inflationary policies. As such, the dollar continued to strengthen against other currencies. The Eurodollar reached 1.176, as the 7-day moving average coronavirus cases were sharply up this week. 

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