As volatility remains stubbornly elevated, its clear what happens to US Treasury yields remains important for what happens to equities.
Fed minutes today may offer more insight into what new Chairman Powell & Co have up their sleeve. Meanwhile 2yr rates ripping higher at 2.26%.
US Treasury issuance this week is $258Bn and with twin deficits and the international position of the US govt is not helping we see more upward pressure not relief coming.
Asia returning from Chinese New Year and watching EMFX with recent Dollar surge to set the tone after a sharp pullback yesterday.
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