GBPUSD Macro Review 8/16/19

Currencies seem to be shifting to reversal momentum as the past few weeks of news cycle driven trends seem to have bottomed. Pound pulling itself off of lows back above the 1.21 level. Dollar back above 98. Gold is still going strong however, as the US Treasury curve again this week.

Government yields still largely following same trends, with the US curve dropping. While the UK curve dipped as well this week, there continues to be support on the short end.

On the long end of the curve, the big news is that the 10 year tops below the 2 year, while 30 yr Treasuries drop below 2%.

10 Yr TIPS rate drops to basically zero.

Equity markets seem to catch a breath.

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