DCHF - Strong Gains In U.S. CPI And PPI Don't Stop The Bond Market Rally

• Strong inflation prints this week have not prevented the long-term US interest rates from tumbling.
• A possible deal in OPEC saw a sharp drop in crude oil prices, and there is some follow-through selling today.
• The pullback in US yields appears to be the main driver of the Japanese yen.
• Tensions between the EU and Poland are escalating.
• Neither the first leg of Powell's testimony nor the Beige Book generated much fresh light on the trajectory of the US economy or Fed policy.

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