Dollar grinds higher into quarter end
Good morning. In the absence of any major volatility catalysts, the dollar is adding to its gains and Treasury yields are holding firm, with equity futures pointing to a flat open. Oil prices have fallen back to levels last seen before the US-Israeli-Iranian conflict began at the end of February, and the skirmishes that continue to flare are drawing diminishing reactions from markets—a sign that traders have moved on from the war as a primary driver and are trading the macro picture instead. Treasury markets barely reacted yesterday when the Supreme Court blocked President Trump’s effort to fire Federal Reserve...