Treasury yields higher. Gold moves lower.
The formula has been pretty consistent.
USDJPY moves higher.
Bond yields go higher.
Gold goes lower.
The wheels were put in motion on comments from Trump that tax plan was forthcoming. The treasury market had started to increase their doubt – or so it seemed – to action on that front from the President. The high yield peaked at 2.64% in the 10 year, but that was back in December. The January high reached 2.55%. Today, the low extended to 2.32% – close to he January lows and the 38.2% of the move up from the November low. It has moved back up to 2.385% today. Is the low in place? A major tax change would bring back the bond bears (the yield higher).
USDJPY keeping gains. Trades to new session highs as Europe/London look to exit
