The Russian curbs on diesel exports arrive at a bad timing with already low inventories ahead of peak demand season. Central banks trying to pause amidst this will feel the wrath from long bond yields.
Steno Signals #59 – When it rains on Janet Yellen, it pours!
The Bank of Japan has fueled a global curve steepening and the US Treasury is forced to emphasize the trend with substantial ramifications for liquidity, rates, FX and equities. Here is how we play it!
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