Improved sentiment, but for how long?
• Improved sentiment. Banking concerns have eased, at least temporarily. Equities a little higher, while a shift in expectations has pushed up bond yields.• Stable USD. Positive sentiment has weighed on the JPY, while stronger German data and hawkish ECB and BoE rhetoric boosted EUR and GBP.• AUD cross-check. AUD under pressure on the crosses. AU retail sales released today. The data will shape the RBA’s near-term interest rate thinking. Banking sector induced volatility continued overnight, although in a change from the recent trend sentiment was more positive with confidence about the resilience of the system improving. Reports that US...