Traders Turn Cautious in Run-Up to Jackson Hole
Good morning, and welcome back. In the US, ten-year Treasury yields are holding near last week’s levels, equity futures are setting up for a modest advance at the open, and the dollar is trading near a three-week low against most of its major rivals. The euro is trading lower given that there’s been no appreciable unwinding in geopolitical risk after presidents Trump and Putin emerged from a meeting in Alaska without anything resembling a deal to end the war in Ukraine. And measures of risk appetite are creeping lower across the G10 currency space as traders brace for Federal Reserve...