With the USDollar giving up all the week's gains this morning on the heels of EUR strength (repatriation), weak claims data coupled with import prices sparked a leg higher in gold and leg lower in the yields of bonds on either side of the Atlantic. Gold poked its head above $1320 briefly, having been smacked lower twice overnight. 10Y US Treasury yield is now 2.39%.German 2Y yields traded at -1bp, there lowest in 15 months as 10Y Bunds dropped below 1% for the first time ever. Equity futures are fading back into the red.
Gold jumped on US claims and import price data...
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as The Dollar tumbled...
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Treasury yields hit new cycle lows...
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With equities giving up overnight gains...
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The early jerk higher gains were driven by yet another hope for de-escalation...
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Charts: Bloomberg
