United States: The US dollar bounced from the lows after the Fed minutes were released. Some have suggested that the market response was due to the Fed’s rejection of yield-curve control as a policy tool. It is used by several central banks, notably the BoJ.
Here is how stock futures reacted to a stronger dollar.
The dollar weakness has provided support for US stocks this year, and investors a jittery about this trend reversing.
Credit: The corporate investment-grade (IG) bond market looks increasingly risky. The concentration of BBB names keeps climbing.
This chart shows this year’s US corporate bond yield changes, by rating.
Energy: The recovery in US refined product demand has paused.
Emerging Markets: Cyclically sensitive EM currencies have underperformed despite broad dollar weakness.
United States: Home purchase mortgage activity is holding at multi-year highs.
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Edited by Daniel Moskovits
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