The gold price clambered higher after the US Dollar took a hit with Treasury yields crumbling on the conjecture that the Fed will not need to be so hawkish. Will lower yields augment gold?
The short end of the Treasury curve will tell us - probably before Powell does - when monetary policy is on the verge of shifting to neutral or accommodation. Read more here.
The US economy may be heading into a recession, according to a commonly accepted indicator, after inflation there surged to a more-than-expected 40-year peak, increasing bets for a 100 basis points rate hike by the Federal Reserve later this month.