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As a banking crisis in the US begins to hit Europe, a crisis of confidence is forming. The Swiss National Bank has brought short-term respite, but for how long?
A near-term USD correction has petered out as US Treasury yields have again broken to multi-year highs. This renewing threat of USD strength is leaving markets nervous this morning.
After a tumultuous few days for US banks, bonds and equities, broader markets are tentatively settling. The mood may be short-lived as US CPI approaches.
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