1️⃣ Fear of inflation, yields rebound, USD surpasses 93
- The dollar continued to rise higher at the beginning of the European session on Tuesday, hitting a one-year high against the Japanese yen, when US bond yields started to rise again on inflation fears.
2️⃣ Today's notable facts and data
U.S. Treasury yields skyrocketed on Tuesday, which once put pressure on US gold and silver stocks. Investors must continue to pay attention to changes in the yield curve. Two major events of the day could influence the trend in U.S. Treasury yields:
- At 20:15, the number of small non-farm ADP jobs in the US will be announced in March. The expected value is a 550,000 increase, much higher than the previous value of 117,000.
- At 4:20 tomorrow morning, US President Biden will deliver a speech on his economic vision. According to the Washington Post, US President Biden will announce plans worth $ 2.25 trillion, including $ 650 billion for the construction of infrastructures such as bridges and roads. White House officials are still making final adjustments to the plan and details may change.
In addition, at 22:45 PM, the 2021 FOMC Voting Committee and the Atlanta Fed President Bostic delivered a speech online on "monetary policy during the pandemic"; at 3:00 the following day, US Treasury Secretary Yellen will preside over the meeting.
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