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Dollar Questions
Ahead of this week's crucial US CPI report, and with America's jobs market and service sector both exhibiting a familiar penchant for stubborn resilience, I wanted to quickly mention the dollar.
Treasury yields have obviously rebounded smartly off YTD (or multi-year, depending) lows reached in the wake of the Fed's 50bps rate cut. Some of that's breakevens (think the war-driven surge in crude), but it's reals too. The bond selloff accelerated late last week amid an ISM services overshoot and, o
