US yields are backing up strongly this morning, now at 3.38%, roughly the highs seen overnight early Monday. We’ve retraced about 61.8% of the drop from 4.00% yields so a clean break of this area would suggest a return to the 4.00% area in the coming weeks.
That’s a plus for the greenback as at least a portion of the rise in yields has to be attributed to improved data like ISM and retail sales….