FW: [Maybank] UST Yields on the Up-Move

 

 

UST Yields on the Up-Move Global Markets Daily by Saktiandi Supaat FX Research 10Y UST yield rose above 3% at one point overnight, taking cues from Fed Mester's comments. She said that Fed may have to raise rates to a restrictive level above 3% in order to meet its twin goals of stable inflation and low unemployment. We cautioned that another rapid rise in UST yield may pose upside risks to the USD. Amongst AXJs, IDR, INR and PHP may be most vulnerable. USDJPY could retest 110 levels. NZD remains sluggish. Decisive break below 0.6920 puts next support at 0.6820. Saktiandi Supaat     (65) 6320 1379     saktiandi@maybank.com.sg Christopher Wong     (65) 6320 1347     wongkl@maybank.com.sg Disclaimer This message is intended only for the use of the person to whom it is expressly addressed and may contain information that is confidential and legally privileged. If you are not the intended recipient, you are hereby notified that any use, reliance on, reference to, review, disclosure or copying of the message and the information it contains for any purpose is prohibited. If you have received this message in error, please notify the sender by return e-mail immediately and delete all its contents. If you wish to read Disclaimer in details, please click HERE. To unsubscribe or change preference settings, please click here to contact your representative.