10-year yields fall below 1.50% for the first time in a week
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The bond market is finding more stability this week and yields are being pushed lower now after having threatened to potentially break higher on Monday.
It is the first time since last Thursday (before Powell’s speech) that 10-year Treasury yields have fallen back below 1.50%.
This is feeding into a weaker dollar as EUR/USD climbs to a session high of 1.1950. In turn, expect equities – tech in particular – to stay more upbeat if the drop in yields extend.