Strong USD makes a loud break higher still.
Saxo Market Call
Summary: Today we have a look at bond yields cooling and risk appetite stabilizing and even improving, but with a new injection of energy from the currency market, where a big US dollar breakout is on the loose as key resistance levels gave way and EURUSD pounded down to its lowest levels in well over a year. A strong dollar is a potential new cause for concern if it persists. Elsewhere, we look at real yields rising in sympathy with the latest moves in Treasuries, cratering silver prices as gold hold comparatively firm, possible early signs of a corporate credit wobble, fresh spike in European NatGas prices and now cotton prices spiking and more. Today's pod features Ole Hansen on commodities, Althea Spinozzi on fixed income and John J. Hardy hosting and on FX.
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