USD, Equities Lower; Treasuries Higher Despite Solid Data
PhyllisWiseWall Street drifted lower after climbing to new high. We believe this was mainly due to profit-taking as US macroeconomic data remained solid. US dollar slipped while Treasury prices rose, pressuring yields. US 2-year and 10-year yields dropped -5 bps to 1.21% and 2.45% respectively. European peripheral bonds firmed, with yields lower, after release of the ECB minutes.
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USD, Equities Lower; Treasuries Higher Despite Solid Data
