<ul><li>Persistent inflation is the key element that we are watching</li><li>If we have a persistent component of inflation, need persistent monetary policy response</li>
USD/INR is trading above the main weekly simple moving averages (SMAs) while breaking to three-decade highs. Exceptional USD demand remains unabated as the Fed
<p>I spiffed out that it might be a strong one given the big concession today but the Treasury Dept will hardly be having a party to celebrate; it's still the highest yield since 2007.</
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