Archives of “February 2021” month
rssDollar fails to take comfort in higher yields so far today
EUR/USD climbs to a six-week high of 1.2200
AUD/JPY climbs to fresh three-year high as the yen comes under pressure again
AUD/JPY up 0.5% to 84.76, its highest levels since February 2018
The yen is weighed lower on the back of higher yields once again to start European morning trade, with AUD/JPY pushing to fresh highs in three years currently.

The pair is looking to hold a push past the March to June 2018 highs around 84.48-53 and that may very well pave the way for buyers to target October 2017 and January 2018 highs just above 89.00 in the bigger picture of things.
USD/JPY inches back above 106.00 as yields lurk higher
USD/JPY moves up to 106.05 to start European morning trade

This comes as Treasury yields are at the highs for the day, with 10-year yields up 4.5 bps to 1.421% and 30-year yields up 5.5 bps to 2.289%. This is putting some downward pressure on the yen and will be a key spot to watch – similar to yesterday.
Nikkei 225 closes higher by 1.67% at 30,168.27
Asian equities bounce back after a beating yesterday

Poll shows analysts expect another (approx) 6% higher for the S&P500 this year
Reuters polling on US equities, with the headline median forecast from 50 analysts showing
- S&P500 expected to finish 2021 at 4,100
- expected to be at 4,000 by end-June
- some strategists warning of a possible surge in inflation, many viewed a correction in stocks in the next six months as likely or very likely.
- Progress in distribution of the coronavirus vaccine coupled with President Joe Biden’s proposed $1.9 trillion package for pandemic relief have boosted the outlook for the economy and earnings.
- inflation concerns
- higher taxes as the economy accelerates
- “Higher bond yields aren’t turning us bearish on the year,” Lori Calvasina, head of U.S. equity strategy at RBC Capital Markets … “What the increase in yields does do, in our view, is provide another justification for rotation out of defensives and secular growth.”
The Federal Reserve says all its services are back to normal
This from earlier: The Federal Reserve payment system is down
US stocks close sharply higher. Dow industrial average closes at a record high
Russell 2000 index rises by 2.38%
The major stock indices all closed sharply higher with the Russell 2000 of small-cap stocks outperforming with a gain of 2.38%. The Dow industrial average is closing at a record high of 31961.86. It reached an intraday all-time high of 32009.64.
- Russell index up 53.08 points or 2.38% at 22840.40
- NASDAQ index up 132.77 points or 0.99% at 13597.97
- S&P index up 43.98 points or 1.13% at 3925.35
- Dow industrial average up 424.51 points or 1.35% at 31961.86. The all-time high reached 32009.64

Thought For A Day
European indices close at session higher, erasing earlier declines
The major European indices erased earlier declines and are closing higher on the day. A snapshot of the provisional closes shows:
- German DAX, +0.8%. The low for the day reached -0.06 percent
- France’s CAC, +0.3%. The low for the day reach -0.37%
- UK’s FTSE 100, +0.6%. The low for the day reach -0.81%
- Spain’s Ibex, +0.2%. The low for the day reach -0.57%
- Italy’s FTSE MIB, +0.7%. The low for the day reach -0.3%