The tension in US long rates does not seem to have the slightest relationship with the figures published by the Commerce Department. The trend reversed on the Dollar over the hours.

The “Dollar Index” progressed by +0.2% in the afternoon (around 93.1) but receded all its gains to return to square one around 92.8. The greenback seems weaker this evening against the Euro, which rose from 1.1726 to 1.1770 (+0.2%), against the Pound (+0.25%). On the other hand, the dollar is gaining ground against the yen (+0.35% to 110 and against the Swiss franc (+0.2% to 91.4). The return on the dollar has indeed increased by +7pts (to 1.345% ) while that of the Yen and the Swiss Franc obviously remains completely fixed. The tension of US long rates does not seem to have the slightest relationship with the figures published by the Department of Commerce: orders for durable goods in the United States have slightly contracted by -0.1% last month, a development roughly in line with consensus, after an increase of 0.8% in June Orders excluding transport - an indicator considered a good barometer of business investment plans - rose 0.7% in July as orders for transportation equipment fell 2.2%.