The USD is higher as the bond rise, tech sell off trade is on
The AUD is the strongest and the CHF is the weakest as the NA traders enter for the day. The USD is modestly stronger as yield rise, tech sell off trade is on again today after the Fed said rates are here to stay for now at least/inflation is not a problem. The bond yield is not buying it.
The ranges and changes are showing steady ranges between 52 vs 67 pips for the majors vs the USD. The GBPUSD just moved negative after the BOE decision. The EURUSD is already trading near the lows for the day as flows into the dollar dominate as stocks slide.
In other markets:
- Spot gold is trading down $13.04 -075% and $1732
- Spot silver is down down $0.13 or -0.50%at $26.19
- WTI crude oil futures are trading down $0.64 or -0.99% at $63.97
- The price of bitcoin is trading down $89 or +0.15% of $57,823.70
In the US stock market, the sell the tech stocks is underway again as bond
yields rise
- Dow up -30 points
- S&P up -27 points
- The Nasdaq is -228 points
IN the European equity markets, the major indices are mostly higher:
- German DAX, +0.86%
- France's CAC, +0.1%
- UK's FTSE 100, as 0.15%
- Spain's Ibex, +0.26%
- Italy's FTSE MIB, +0.22%
In the US debt market, yields are sharply higher with the 10 year up 8.5 bps and leading the way. The 2-10 year spread is also higher.
In the European debt market, the benchmark 10 year yields are also higher across the board with UK yields up the most at +6.3basis points:
