Market wrap: US stocks and yields down - Westpac

Analysts at Westpac offered a market wrap.

Key Quotes:

"Global market sentiment: US interest rates, the US dollar, and equities are all slightly lower despite another round of strong US economic data.

Interest rates: US 10yr treasury yields fell from 2.49% to 2.44% and 2yr yields fell from 1.253% to 1.20%. Fed fund futures slipped 1bp-4bp, the April contract now trading at 0.72%, which implies around a 40% chance of a rate hike in March).

Currencies: The US dollar index shed around 0.6%, its second down day not obviously attributable to any news. EUR rose from 1.0620 to 1.0680. USD/JPY fell from 114.00 to 113.13, the safe-haven yen outperforming. AUD ranged between 0.7685 and 0.7720, still near a three-month high. NZD ranged between 0.7205 and 0.7235. AUD/NZD ranged between 1.0640 and 1.0690."

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