US yields recovered
US Treasury yields have reversed decisively higher with 10-year paper paying 2.646% compared to a trough of 2.402% 2 weeks ago.
According to RBS, the decline in 10-year yields is over and they will stay above 2.80% in the coming months.
US 10-year Treasury yields (Bloomberg)
The prospect of higher yields supports US dollar. The dollar index (DXY) held at 80.811 from May’s low at 78.906.
US dollar index (Bloomberg)