Saxo Market Call

Yields spike further and finally get (a modicum of) respect

February 17, 2021

Today's slide deck:   - 

Today we look at the acceleration higher in US treasury yields yesterday, with the entire yield curve from 5 years on out lifting aggressively and finally getting widening respect outside of the yield sensitive USDJPY and gold, as the USD was broadly bid on the development and the speed of the move was likely also behind the weaker US equity market after early trading saw new all-time high. Also a look at oil and copper as we wonder if the yield rises continue and the impact broadens further.  Today's call with Ole Hansen on commodities and John J. Hardy hosting and on FX.

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