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Yields, yields, yields. That's the key focus in the market as we get things going to start the new week. 10-year Treasury yields are up 5.1 bps to 1.387% while 30-year yields are up by 4.7 bps to 2.181% as we get into European trading.

WCRS 22-02

Major currencies are little changed for the most part though the yen and franc are keeping softer while commodity currencies are well, benefiting from higher commodity prices amid the reflation theme kicking into gear.

The dollar is keeping steadier for the most part after a sluggish end to last week with cable still holding above 1.4000 and AUD/USD testing 0.7900 earlier today.

Elsewhere, gold is keeping a modest bounce and looking towards $1,800 again while copper continues to run hot in the commodities space - putting $9,000 in focus.

The key consideration to watch in trading today is how will broader markets take to the surge higher in yields - especially real yields. Are equities able to brace themselves for such a development? That will be a key question for Wall Street traders.

Keep an eye out for Fed speak as well this week in case policymakers feel the need to touch on inflation remarks given how the market has been behaving recently.

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