
US Treasury yields surged in a two-day sell-off, with the 10-year note reaching 3.232%, a seven-year high. Global stocks sank as robust economic data and hawkish Fed comments raised inflation concerns.
A stronger dollar and higher rates raise the cost of dollar-denominated commodity imports for emerging markets and can weigh on demand for feed ingredients.
After 2,356 past bullish macro events, US Dollar (Broad) moved a median +0.2% over 5 sessions (60% higher; middle half -0.3% to +0.7%), and +0.4% over 20.
After 301 past bullish macro events, Brazilian Real (BRL per USD) moved a median +0.4% over 5 sessions (57% higher; middle half -1.2% to +1.7%), and +1.0% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.