**As seen in the FXQuotes Report 10/22/21 cablefxm.co.uk/reports
Spot/yields relationship remains intact. However, we could point at some short-term dislocations.
The NZD 2-year and 10-year yields have risen by 49.5 and 56.5 bps over the last month, respectively. In terms of yield, we could say the NZD has not been fully priced in, NZD spot is not even in the top three G10 performers, 1-month change. NZD stands at 2.0%, NOK and CAD post 3.6% and 3.3% gains vs. the U.S. dollar, respectively
On the other side of the spectrum, we would favour CHF and SEK weakness. Swiss 2-year and 10-year yields have risen by 2.4 and 21.4 bps over the last month, respectively. However, the franc is positive vs the U.S. dollar, 1-month change. Germany's 10-year Bund yield has increased by similar performance to the Swiss curve, this has seen the EUR losing ground vs. the U.S. dollar by 0.4%, 1-month change
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