The push higher is helped by higher bond yields on the day, with 10-year Treasury yields up 3 bps to 4.021% at the moment. Traders are paring back some of the aggressive rate cut bets in general. Here's a look at the change in the totality of rate cuts priced in for this year from last week until now:Fed: ~156 bps > ~136 bpsECB: ~161 bps > ~146 bpsBOE: ~141 bps > ~ 126 bpsBOC: ~120 bps > ~112 bpsRBA: ~53 bps > ~38 bpsRBNZ: ~93 bps > ~93 bpsMarket players are certainly pulling back on the aggression and that has seen bond yields move higher as well this week. The reversal of the sell the dollar, buy everything else mood in November and December is also what continues to keep the dollar firmer
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