Tryptophan-addled markets move sideways
Currency market liquidity is thinner than a Wegovy patient at a Thanksgiving dinner, with choppy price action leaving most major pairs effectively unchanged relative to Wednesday levels. Equity futures are pointing to a subdued holiday session, ten-year Treasury yields are holding at 4.46 percent, and trade-weighted measures of the dollar are staying stable as traders keep positions square into the weekend. The Japanese yen is holding just north of 149 against the dollar after updated inflation numbers came in slightly below expectations, further diminishing odds on an imminent shift away from the central bank’s easy-money policies. Consumer prices excluding fresh...