It's very expensive to bet against the carry trade.
More Quotes from David Durrant:
There's demand for these bonds from somebody who needs duration. The economic backdrop would suggest that buying 30-year Treasuries at 4.47 would end up being a painful trade.David Durrant
The trade deficit will eventually be a factor in weakening the dollar.
David Durrant
Slightly higher inflation says to the Fed they have to remain with a tightening bias. The market is going to remain focused on payrolls at the end of the week. That's likely what is driving dollar strength.
David Durrant
On the one hand you've got electoral uncertainty in Germany, and on the other you're going to get a raise in (U.S.) rates tomorrow. It would be surprising if the dollar didn't strengthen today.
David Durrant
If there was a surprise (in the GDP report), it was that the deflator and core PCE were revised up a bit. So, slightly slower growth than expected, although it's still a relatively robust 4.1 percent.
David Durrant
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