Dollar steadies amid softer flows
The dollar is trading just above a three-month low and Treasury yields are creeping higher after yesterday’s drop. Benchmark ten-year rates tumbled more than 10 basis points during the session after the government auctioned $109 billion in short-term notes without triggering any turmoil, adding to a weaker-than-forecast new home sales number in convincing investors that markets and the economy are beginning to normalize after a prolonged sequence of unusual developments. The euro is inching lower in early trade, failing to gain traction after Bundesbank President Joachim Nagel tried pushing back against rate cut expectations. “It would be premature to lower...