MacroBusiness
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at 8:30 am on May 21, 2021 | 1 comment
Overnight saw some upside volatility return to equity markets due to a mish mash of good and bad economic news and some further FedTalk from hawks and doves over the coming tapering (or not tapering) of the US economy, plus the jumbles around the ever interesting labour market. The USD took back its gains against the major currencies, while Wall Street reverted back to its previous levels but still looks weak going into the end of the trading week. Treasury yields fell back ever so slightly while heat continues to come out of commodity prices with oil off another 2% lower as gold continues to outperform the cryptos.