EM risk aversion fears are easing into the NA open,with most equity markets stabilizing, US 10‐year yields back up to 2.78%and the USD mixed. The surprise decision by India’s RBI to hike rates by 25bpts to 8.0% and the upcoming Turkish central bank meeting hasbeen the main focus during the Asian and European sessions. With the market also paying close attention to a series of RBA documents releasedon AUD; as expected UK GDP as well as anticipation over Wednesday’s Fed and RBNZ decisions. Today’s US data includes durablegoods, S&P case shiller and consumer confidence.
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Scotiabank