Dollar recovers on rest-of-world weakness
Investor demand for US assets continues to grow at an untrammelled pace this morning as signs of softness emerge in other areas of the global economy. Ten-year Treasury yields are down roughly six basis points to 4.26 percent, but benchmark rates are declining much more rapidly in the UK and euro area after a series of purchasing manager surveys pointed to wider weakness and diminished the case for further monetary tightening. The dollar is stronger against all of its major rivals – with the Japanese yen marking the lone exception. US equity futures are higher ahead of an earnings release...