Cheap money era ends, forcing investor strategy shift
Bond yields hit multi-decade highs, signalling the end of cheap money and forcing investors to demand higher returns.
Mainland Chinese markets reopen after a week-long break, with gold feeling their absence. The data calendar looks uneventful.
The main news as trading gets under way is the resumption of trading on mainland Chinese exchanges after a week-long break. Gold appears to have felt China's absence keenly; a separate update on gold follows.
The day's economic data agenda is likely to be of limited consequence.
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Bond yields hit multi-decade highs, signalling the end of cheap money and forcing investors to demand higher returns.
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