What’s coming up in North American trade
Rising yields and a rising dollar along with it are the story of the day so far. US 10-year yields hit a new cycle high at 1.77% but have since slipped back to 1.75%.
The economic calendar today starts with US house prices as the January measures from the FHFA and Case-Shiller are released at 1300 GMT. These are a bit dated and aren’t likely to be market movers but they will be a reminder that Americans are going to be flush coming out of the pandemic with house prices up around 10%.
The potential market mover comes at 1400 GMT with the March consumer confidence report. The consensus is a rise to 96.9 from 91.3. Confidence has been slow to rebound but it could come back fast.
Finally, we hear from the Fed’s Williams at 1830 GMT in a moderated discussion. Expect more of the same lines emphasizing that the Fed will be patient.