Near-Term Risks Have Risen For Breakevens: Deutsche Bank
Thanks to the renewed focus on Fed tightening and associated upside risks for the USD and downside risks for the Chinese economy, commodities and risk markets, near-term risks have risen for B/Es, believe DB analysts. Markus Heider and Alex Li point out in their May 20 research piece titled “DB Inflation Report-Weekly Inflation Update” that breakevens have struggled since the Fed jawboned rate expectations higher in the April FOMC minutes last week.
Breakevens: mixed . . .
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