Fed Minutes trumped by US Treasury announcement

The US Treasury provided a boost to bond and equity markets yesterday, announcing that it will more than double repurchases of 10, 20, and 30-year debt in the next few months. This saw the long bond yield fall 10 bps from its 19-year high on Tuesday, to 5.184%. Gold had its best day since March. US stock markets also closed up on the day with Moderna and Merck providing a boost. Asian equity markets continued the rally overnight and the KOSPI leapt over 6% after SK Hynix announced a big stock buyback. Carsten Menke, Head of Next Generation Research, joins the podcast today to...