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Equities markets wavered higher as bond yields edged closer to decade highs ahead of retail sales data tomorrow. US10Y is currently at 4.20% and is nearing its last highest daily close of 4.24% in Oct ’22, while the US02Y is at 4.96%, 0.12% away from its last highest daily close in Mar ’23. This translates to a yield curve inversion between the 10 and 2-year of -0.76%, after putting in a local high of -0.68% a week ago. ^SPX and QQQ 0.11% are 0.2% and 0.5% higher from Friday’s close. Bitcoin Historical Volatility Index (BVOL7D) is at historical lows at 2.7, having seen three such past occurences in the past five years. Unsurprisingly, BTC (+0.9%) and ETH (+0.7%) are relatively flat on the day, each trading between a 3% range since late July.
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