Oil prices, Asian equities indices, US equities futures, EU bonds, EU equities, and US Treasury yields… All of the above moved steadily lower in the overnight session amid a broad risk-off trade. A technical break of June’s uptrend in rates is adding the momentum, and so far, Fed Chair Powell’s congressional testimony is being received as more dovish than hawkish.
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Here’s a look at the technical break of June’s uptrend in bond yields:
Source: Mortgage News Daily
