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US dollar, equities and bond yields rise, but why?

A wave of positivity seems to have hit the markets – the US dollar is up, other safe haven currencies are down, bond yields are rising and oil is on the up. It’s as though there’s been some positive news behind all this action, but what? Phil Dobbie asks NAB’s Rodrigo Catril to explain – it’s a bit of the German government’s talk of a fiscal stimulus, a bit to do with the Huawei extension and perhaps a little to do with hopes that trade talks will improve. But none of this was particularly unexpected. Meanwhile, Brexit uncertainty continues but could be reaching a head soon, and it’s possible the Italian Prime Minister will resign today.

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