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“It is fair to say that the economy is near maximum
employment and inflation is moving toward our goal”. These words from Fed
Chair Yellen and a few others like “a few hikes this year” spurred a
modest recovery in the DXY index. Treasuries plunged in tandem with 10yr
last seen around 2.42%, up from 2.32%. The move in USD and rates were
sharp and we expect more to come. Yellen speaks again on Friday at 9am
(SGT). For all we know, a February hike could be firm...
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