davidmichaels

The currency market may soon be split between central banks who will tolerate higher borrowing rates and those who won't. The Australian dollar was the top performer on Monday while the Swiss franc lagged. Watch out for comments from Brainard in the day ahead.

The ECB's Villeroy had the clearest response yet to the turmoil in the bond market. He said much of the recent rise in yields is unwarranted and that the ECB must react against it.