Friday, May 18, 2018

FW: [Maybank] RESEND: UST Yield-to-USD Effect More Pronounced on USDJPY



RESEND: UST Yield-to-USD Effect More Pronounced on USDJPY

Global Markets Daily
by Saktiandi Supaat

FX Research

UST yields are on the move higher, with 10Y hitting 3.1242% and 30Y hitting 3.2595%. These are levels not seen since 3Q 2014. USD remains supported from the persistent rise in UST yield but fail to show clear signs of pushing on to fresh highs. The UST yields-to-USD effect appears more pronounced on USDJPY. While most AXJ currencies on the other hand appear relatively resilient. This could be due to equity still relatively supported. However we caution that persistent and rapid rise in UST ...


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