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The 10-year US Treasury yield reached 2.998 percent, its highest since January 2014, as markets anticipated further Fed rate increases. Analysts linked the move to easing geopolitical tensions and rising oil prices.
Higher yields and rate expectations tend to strengthen the dollar and raise financing costs for feedlots and farm credit, which can weigh on commodity demand.
cnbc.comThomas Franck, John Melloy, Alexandra GibbsApr 23, 2018After 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.
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.
