US bond yields keep on rising. Second impeachment against Donald Trump

Democratic lawmakers of the House of Representatives have launched for the second time an impeachment against the US President. US equity markets were down yesterday, as the strong rise in bond yields raises many doubts about the sustainability of stretched valuations. The USD strengthened as well (EUR/USD touched 1.2132), but these trends seem already reversing, as Mr. Biden is expected to unveil the details of its fiscal plans on Thursday, which supports recovery expectations.

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May 20, 2021

Reality check

ICE Brent prompt contract collapsed to 66.6 $/b as the dollar strengthened, while prompt time spreads remained subdued at 15 cents, reflecting a balanced spot…
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