BOJ Holds Interest Rates at 0.75% as Policymakers Signal Growing Inflation Concerns 
US Gas Market Poised for Supercycle: Bernstein Analysts 
Bank of Korea Signals Potential Interest Rate Hikes as Inflation Remains Elevated 
Urban studies: Doing research when every city is different 
South Korea Central Bank Signals Cautious Policy Amid Inflation and Middle East Tensions 
UBS Predicts Potential Fed Rate Cut Amid Strong US Economic Data 
Gold Prices Fall Amid Rate Jitters; Copper Steady as China Stimulus Eyed 
China's Refining Industry Faces Major Shakeup Amid Challenges 
ECB Signals Possible Interest Rate Move if Inflation Outlook Fails to Improve 
The US 10yr treasury yield ranged sideways between 2.58% and 2.61%, while the 2yr yield nudged higher from 2.43% to 2.45%. Futures markets continued to price little chance of any further Fed rate hikes in this cycle, but a 30% chance of a cut by December. Fed is scheduled for monetary policy this week, which is most likely to be on the status quo.
The macro outlook is little changed and rate yields are at the upper end of their YTD range; we see taking profits on tactical shorts in 10-year US Treasuries.
The market depth in 2-year Treasuries remains poor following a redefinition of minimum tick size on its interdealer trading platform. Meanwhile, liquidity across most other tenors has recovered from its year-end lows. We project Treasury’s extraordinary measures should last until late August.
On the flip side, the RBNZ is likely to remain on hold over the next few years. That should cap 2yr swap yields at 2.10%, while a loss of economic momentum – both in NZ and in developed economies – could see fresh record lows below 1.77%.
Currency Strength Index:FxWirePro's hourly NZD spot index is inching towards 16 levels (which is mildly bullish), while hourly USD spot index was at -114 (highly bearish) while articulating (at 10:15 GMT).
For more details on the index, please refer below weblink: http://www.fxwirepro.com/currencyindex
