US Treasury yields continued to surge yesterday, while global equity indices were a sea of red, perhaps on fears that the Fed may accelerate the pace of its future rate hikes. As for today, investors are likely to fix their gaze on the US employment report and especially the earnings print. Canada’s jobs data are also due to be released, with a decent report having the potential to further bolster expectations with regards to a BoC rate increase later this month.
Market Participants Turn Attention to US Wage Growth
The dollar traded mixed against of its G10 counterparts yesterday. It gained against NZD, CAD, AUD and CHF in that order, while it underperformed versus GBP, JPY and EUR. The greenback traded virtually unchanged against SEK.
US Treasury yields continued to surge yesterday, with the 10-year yield hitting 3.232%, its highest level since May 2011, before retreating somewhat later in the day. The dollar index (DXY) traded flat as a result. Following Wednesday’s upbeat US data and the
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