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Weekly Talking Points - Fed, ECB and BoJ in play

Our round-up of what to expect in the coming week and the key events of last week. The regular Spotlight feature looks at the US implied SOFR curve and the 2-yr. note yield. Rate rise risk is back in the curve, and expectations of rate cuts have been pushed out a bit, in line with our long standing view. We argued for waiting for 2-yr. note yields to bounce when they were at 3.6% in March, they are back to 4.5% now and should be getting investor attention on the view that waiting for 5% or higher is tempting, but... Our Review section looks at the Eurozone slipping into recession, Chinese soggy economic data and Bitcoin. To read more please subscribe.

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The currency market is at a key juncture. Major central banks may be near their 'peak' rate for this cycle, while the Bank of Japan has kept rates below 0% and is still offering a lot of stimulus to t

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