Markets signal weakening faith in US dollar stability
Global financial markets show signs of strain as US economic data steadies but bond markets suggest concerns about future stability.
US economic indicators remain stable, but bond markets are signalling doubts about whether that stability will continue. Gold and oil prices have risen while the US 10-year Treasury yield sits at 4.74 percent. The New Zealand dollar trades at 59.8 US cents, with the TWI-5 index at 63.3. Weakness is evident across other major economies, including softer manufacturing data in Australia and rising inflation in Japan.
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Weekend briefing: Debasement of the USD underway
US data stable but bond market loses faith it will stay like that; China FDI weak; Japanese inflation rises; Australia PMIs softer; Panama canal traffic restricted; UST 10yr at 4.74%; gold and oil prices up; NZ$1 = 59.8 USc; TWI-5…