Treasury yields rise sharply as reflation rolls on
b'Wednesday 17th February 2021Equities were mixed in the US overnight, but the S&P did manage to claw out a new record high, whilst the NASDAQ fell. The biggest movements, though, have been in treasury yields, particularly in the longer end of the curve. Phil Dobbie asks NAB\\u2019s Rodrigo Catril where the money is going, if it is leaving government bonds and not piling into equity markets. The new high for Bitcoin might be part of the answer, as the ECB\\u2019s Gabriel Makhlouf likening it to Tulip speculation in Holland 300 years ago. US retail sales and the FOMC minutes are two highlights over the next 24 hours, along with the UK\\u2019s inflation numbers.
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