Forex - US Bond Flows: firm PPi keeps short end propped

 12:36 (GMT) 13 Jun

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Stronger than expected PPI data (though ex food/energy/trade a more subdued 0.1%) enough to help keep short end yields propped as the market plays to its natural inclination towards slightly defensive into an FOMC, especially one where a hike is all but guaranteed. Ultimately though follow through lacking after the initial headline pop and it is hard to see the market breaking out of very narrow trade now into the meeting

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