Fundamentally there is not a good basis for the yen to rally today. But the bottom line is the dollar is more stable than we would have thought Friday.
The recent rally in the stock market might be captured (in the numbers).
The Treasury market rally may be a bear trap. The rally lacks a strong foundation as well as the extreme pessimism that marks the end of sell-offs.
The Treasury market rally may be a bear trap, ... The rally lacks a strong foundation as well as the extreme pessimism that marks the end of sell-offs.
The basis for a rally in bonds has gotten smaller.