Presented without comment because as I see them, USTs are aggressively UNCH (marginally bid but seriously, how much have we seen 1.85% over the past few weeks?)
(Bloomberg) -- European equities trade in the red, but off worst levels. Euro Stoxx 50 is down 0.9%. Tech, autos and utilities are the weakest sectors. Miners and travel are the only Stoxx 600 sectors in small positive territory. S&P futures are down 0.3%, Nasdaq futures off 0.9% so far. Fixed income is mixed. Bunds bull flatten a touch, long-end richer by ~2bps, brushing off some hawkish comments from ECB’s Muller. Peripheral spreads tighten slightly. Gilts are bear steeper, cheaper by 2.5bps at the back end. USTs bear flatten a touch. In FX, Bloomberg dollar index holds a narrow range either side of unchanged. Commodity currencies lag G-10 peers, CHF and JPY outperform. Turkish lira once again goes sharply offered, briefly weakening over 9% to print through 17/USD before further central bank intervention. WTI drops ~1.5%, holding above $71 so far; Brent trades slips below $74. Spot gold holds Asia’s gains, near $1,804/oz. Base metals are in the green with LME tin outperforming. Bloomberg’s Markets Live team is running an anonymous survey on asset views for 2022. It takes about two minutes and the results will be shared in the latter part of December. To participate, click here. KEY HEADLINES:
Villeroy says inflation outlook different from pre-crisis regime
ECB ready to tighten faster if inflation stays above 2%: Muller
BOE’s Pill: more rate hikes could be coming for U.K.
Bundesbank lifts inflation outlook as Weidmann urges vigilance
Bank of Russia: rate hike possible at one of next meetings
U.K. retail sales surge with discounts around Black Friday
As far as rhetorical question above — 1.85% 30yy in some WEEKLY candle context