AM Notes: Fed, Biden & Apple earnings
Interesting moves in U.S. yields yesterday after another 'OK' 7Y auction...
10Y bonds sold off, with yields rising to 1.63% from 1.58%.
10Y breakevens also pushed higher...
Australia's CPI missed: 0.6% vs 0.9% expected
The 0.6% rise in the CPI was softer than Westpac’s 1.0% forecast and the market 0.9% forecast.
And it was not just due to the unexpected decline in dwelling prices (more below). Food prices were 1.0ppt softer than forecast rising just 0.4% mostly due to much softer fresh fruit & vegetables. There was also