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⚖️🔺Dollar Rate Advantage Rises to Highest Since March 2019: Cable FX Macro

  • A Bloomberg measure of U.S. the 10-year yield space vs DM peers is extending higher on Tuesday session, our own <.RDDXYIR> index of front-end differentials has failed to follow through

  • The Cable FX Macro Dollar Index <.RDDXY> is up 130 points on the day, the dollar is now trading at fresh YTD highs. The greenback continues to be supported by rate differentials. U.S. 10-year yield rises 12.1bps to 4.800%, the Bund and Gilt equivalents are up 4.5bps and 3.3bps, respectively

  • The Bloomberg measure of dollar rate differentials is now at the highest level since March 2019. Tuesday session saw the 2s10s curve inversion narrow to the lowest since March, last at 34.8bps


 
 
 

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