Globally, bond yields are lower with the U.S. 10‐year entering the NA session at 2.50%, flirting with its May 15th low of 2.47%. Central banks (the Fed in particular) have succeeded in delivering a firm message that once interest rate hikes begin they will be cautious and ultimately conclude at lower levels than history would predict. In FX,most currencies are in ranges; but the USD is favouring the strong side making small gains against the other majors into the NA open. Today there is no data during the North American session and no Fed speakers. Leaving for a fairly quiet start to the day.
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Scotiabank