Overview
Investors seem to be catching their collective breath today, and the global capital markets are consolidating recent moves. A notable exception is the Chinese yuan, which has continued to strengthen, and the dollar has slipped back below CNY7.0. Asia-Pacific equities were mixed, and the four-day advance in the regional benchmark stalled today. That said, India has rallied to new highs. In Europe's Dow Jones Stoxx 600 is firm but struggling to maintain the upside momentum that has lifted it for the past three sessions. US shares are little changed. Benchmark 10-year yields played catch-up