The emphasis on bond yields is distracting due to declining volatility and the upcoming Fed report. The most common expectations are the Fed to mitigate the tone as a result of criticism from the Wall Street leaders and President Trump.
This would support the stock and cause a temporary drop in the USD. Of course there is also the possibility that the Fed will not mention anything for a tighter tightening, which will add to the stock and will support the USD, along with US bonds.
Judging by the market reaction, moods remain mixed. USD is growing, suggesting a report in favor of the US currency and the detriment of the indices. They, however, continue to accumulate good financial reports from earlier today.
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