The gold price edged up to start Tuesday’s session as the market contemplates the possible outcomes of US CPI and PPI ahead of the Fed’s Federal Open Market Committee (FOMC) meeting late Wednesday.
Treasury yields have been remarkably steady so far this week ahead of the crucial inflation data and monetary policy meeting. The 2s 10s curve inversion remains deeply negative below -0.80% but equity markets don’t seem too fazed by what the bond market is saying.
At the same time that nominal yields have plateaued out, the US 10-year real yield continues to tick slightly north, trading above 1.5%.
