# Rates Spark: The party goes on | articles | ING THINK

> Bond yields extended their rally after the Bank of Japan kept yield curve control and softer US retail sales, producer prices and industrial production data came in. The 10-year Treasury yield fell below 3.40%, and markets focused on a 25bp Fed hike in February and possible Fed cuts later.

- Date: 2023-01-19 · published 2023-01-19T12:00:00.000Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/38006-rates-spark-the-party-goes-on-articles-ing-think
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Expectations of a near-end to Fed tightening weaken the dollar and reduce financing costs, which can modestly support commodity prices and dollar-denominated export demand.

## Read by commodity

- DXY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2020-08-28 | [Fed: We really, really, really aren’t going to raise rates soon… \| articles \| ING THINK](https://feedsoft.ai/events/51790-fed-we-really-really-really-aren-t-going-to-raise-rates-soon-articles-ing-think.md) | -0.5% | +1.0% |
| DXY | 2023-11-21 | [FX Daily: Renminbi shorts on the run \| articles \| ING THINK](https://feedsoft.ai/events/12028-fx-daily-renminbi-shorts-on-the-run-articles-ing-think.md) | -0.6% | -0.7% |
| DXY | 2018-09-21 | [FX: No snap or crackle as Chequers goes pop \| articles \| ING THINK](https://feedsoft.ai/events/63261-fx-no-snap-or-crackle-as-chequers-goes-pop-articles-ing-think.md) | +0.4% | +1.2% |
| DXY | 2023-04-12 | [The Commodities Feed: All eyes on US CPI \| articles \| ING THINK](https://feedsoft.ai/events/36345-the-commodities-feed-all-eyes-on-us-cpi-articles-ing-think.md) | -0.4% | -0.6% |
| DXY | 2024-01-24 | [FX Daily: Unwinding the spurious dollar rally \| articles \| ING THINK](https://feedsoft.ai/events/32330-fx-daily-unwinding-the-spurious-dollar-rally-articles-ing-think.md) | -0.4% | -0.1% |

## Sources

- think.ing.com: https://think.ing.com/articles/rates-spark-the-party-continues/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.