From Marc to Market:
Overview: The US dollar is mostly firmer today as its pullback from last week's highs is retraced. Although the US 10-year yield is spending more time below the 4.0% floor, the yen is the weakest of the G10 currencies, off about 0.70%, as Takaichi became Japan's first woman prime minister and the many investors are concerned about the policy mix she advocates. That said, the JGB market was little changed. Most emerging market currencies are also softer. The Chinese yuan's nearly flat performance puts it atop the EM FX complex, pending the open of the Latam market.
Gold rallied almost 2.5% yesterday to reach a new record (~$4381.50) but is off nearly 2% now. It is thus far holding above yesterday's low (~$4219). December WTI is consolidating after recovering from slightly below $56 to a little above $57. It reached almost $57.30 today. Asia Pacific equities advanced after yesterday's rally on Wall Street. China's CSI 300 was the strongest, with a 1.5% advance. After rallying 1% yesterday, the Stoxx 600 in little changed in the European morning and US index futures are slightly softer. European 10-year yields are marginally lower, and the US 10-year Treasury yield is nearly a basis point weaker near 3.97%. Last week's low was about 3.93% and the low for the year, set around "Liberation Day" was almost 3.85%....
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