Market digesting all news positively is a red flag to me, but let’s go through it.. The dollar dropped 0.5% to its lowest level since April 2022 (look at that GBP above 1.37) while treasury yields eased across the curve as the market is anticipating faster interest-rate cuts (63bps priced in for this year, up from 51 last week), following a wsj report suggesting Trump may accelerate his nomination for the next Federal Reserve chief to September. Then US consumer spending grew in the first quar…
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