US Bonds Fighting Against European Weakness

The message from today's overnight trading session is clear: European yields have broken well above their most recent ceiling after hotter inflation data in Spain and France.  That ceiling had seen similar activity to the US version at 3.98% in 10yr yields.  Today begins with US bonds fighting to stay inside the sort of range that EU yields just abandoned. In other news, home price indices were updated for both FHFA and Case Shiller this morning.  No major surprises.  Annual totals remain in positive territory.  Monthly changes are slightly negative.
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