The market fixation is back on yield again, and the yen's attraction as a funding currency will leave it vulnerable to further weakness despite ongoing strength in economic data.
More Quotes from Mitul Kotecha:
Overall, a disappointing number, but growth is set to bounce back strongly in the first quarter, with government consumption set to provide a positive contribution and consumer spending also likely to strengthen.Mitul Kotecha
The market was looking for a weak number. There was a relief rally when the number came in stronger than expected.
Mitul Kotecha
The whole China effect is fading. We are moving back to trading in familiar ranges and the market is realizing it was not a big move.
Mitul Kotecha
Investors will look for any sign that he believes the Fed is close to the peak in its interest rate cycle.
Mitul Kotecha
It will be interesting to see how upbeat the Fed will be on growth prospects and how U.S. asset markets will react. Pre-Fed trading means we are likely to see tight ranges today.
Mitul Kotecha
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Based on Topics: Economics QuotesBased on Keywords: fixation, yens
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