Something odd took place one month ago, when the PBOC announced on April 17that it would cut the reserve requirement ratio ( RRR) by 1% to ease financial conditions: it broke what until then had been a rangebound market for both the US Dollar and the US 10Y Treasury, sending both the dollar index and 10Y yields soaring.
..Why The Soaring Dollar Will Lead To An "Explosive" Market Repricing: A Flow Chart
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