Region: Europe

Stock gains limited with 2-year yield at 5%, Europe’s problems. Cyclical or structural? GBP/EUR eying fresh 1-year highs.

Dollar dips despite surging yields, pound eyes 200-day moving average, and 6% peak back on the table.

Real yields are starting to bite, China is Europe’s problem, really. 6% peak back on the table.

Yields at 15-year highs pressure equities, PBoC pushing back against weak yuan, and sterling stumbles after retail sales miss.

Elevated core inflation supportive of the pound, the grass is greener in the US, and China pushed down euro below $1.09.

Pound edges up after inflation, euro steady despite weak China data, strong US consumer helps dollar.