USTs and the greenback surge remain the dominant drivers across global markets, with yesterday’s strong US consumer confidence and home prices injecting new life to the greenback surge to derail the apparent stabilization in markets we had seen in the overnight session. With yesterday’s violent move, 10-yr UST yields have now surged 55bps since early May, with the spillover leading to similar or even larger moves in LATAM curves.
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Scotiabank