BOE Mann is speaking and says:
- Inflation is still a challenge
- It is important for us to continue to use monetary policy in order to get us to that 2% inflation objective
Yields in the UK are moving higher with the 30 year gilt yield reversing an earlier drop. It is currently up five basis points on the day of 5.478%.
The UK 10 year yield is also higher by 4.7 basis points at 4.640%. The low yield reached 4.556%. The yield has been trading above and below the 100 day moving average at 4.60%.
Meanwhile, in the US, the 10 year yield is also reversing to the upside. It is currently up for .4 basis points at 4.471%. That is the highest level since June 11.
The 30 year yield is also now higher by 3.2 basis points and back above the 5% level at 5.004%. That is its highest level since May 29.
The market is sniffing the tariff inflation.
This article was written by Greg Michalowski at www.forexlive.com.