The U.S. market is quiet, with expectations of interest rate hikes building up🧐
Yesterday was a completely non-event day for US markets without any data or event of note. Treasury yields continued to grind higher and 10y yields tested the post NFP highs of ~4.20%. Fed pricing remains at <10% chance of a hike in September, and creeping up to just 30% by November before topping out.
Equities bounced marginally after a tough week last week, led by a rebound in tech stocks which were battered last week. Volumes were down substantially across the most asset classes with the exception of USDCNY FX.
