By Chris Becker
A week defined by a near 10 year high in US Treasury yields and a resurgent USD, which put pressure on equity markets around the world. Gold has cracked, as has Euro into new multi-week lows and its setting up for another uptrend in USD which will impact commodity prices. In Australia, the ASX200 just cannot get out of its funk, dragged down by recalcitrant financials and a weaker labour market, with the RBA stuck with a big problem on its hands.
This week’s data is relatively sparse and US centric with durable goods and FOMC meeting minutes later in the week as highlights.