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Rising Treasury yields, inflation expectations fuel safe haven pull-out

Sell-off in Japanese yen, Swiss franc and gold could be aggravated by US$1.9t relief bill passed by US Senate; strengthening greenback against yen and franc offers opportunities for carry trades, says strategist

Published Wed, Mar 10, 2021 · 05:50 AM

Singapore

WHATEVER was safe is no longer safe.

The recent sell-off in haven assets such as the Japanese yen, Swiss franc and gold, fuelled by rising US 10-year Treasury yields which signal economic optimism and inflation expectations, could be aggravated further following the US$1.9 trillion relief bill passed by the Senate last weekend.

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