A mixed start to the week: eye son US yields - ANZ

Analysts at ANZ noted that it was a mixed session while US Treasury yields attempted a push higher, but then eased back again. 

Key Quotes:

"This supported the USD, while equities and commodity prices fluctuated. The US 10-year yield rose as high as 2.996% before falling a couple of bps to 2.97%."

"The focus appears to be on inflation (read oil, tight labour market and fiscal expansion) and increasing treasury supply, where there will be $96bn worth of 2, 5, and 7 year notes auctioned this week – the most since 2014. The USD firmed against all in the G10 with commodity currencies and JPY underperforming."

"Commodities experienced some volatility after the US Treasury appeared to soften its stance against Rusal; aluminium prices fell around 7% after the news and dragged other metals prices lower too."

"Equities had a positive session in Europe after better than expected PMI’s. However, US indices struggled, especially financials and companies with links to industrial metals."