Bond Market Signals
Fairly modest moves across markets overnight, though the underlying themes of participants reassessing the outlook for how high interest rates could go, how long central banks may need to keep them there to squash inflation, and concerns about what the economic impacts could be continuing to bubble to the surface. The US S&P500 drifted back again (-0.9%) as US bond yields rose ~6bps across the curve. The USD index has range traded over the past few sessions, but in level terms it is still up near a 1-month high. EUR is down near 1.0730, USD/JPY is up around 131.60, and the...