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 market is already in a wait-and-see mode before the ECB meeting and, above all, the release of May US inflation figures on Thursday. The Fed meeting will then follow next week. Limited market moves yesterday. The EUR/USD exchange rate was up, but then gave up some of its gains to trade around 1.2180 this morning. Very busy economic agenda today, mainly in Europe. No big market mover nevertheless.
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