Like the dog that did not bark, the long-term US yields tumbled despite data that confirms the acceleration of the US economy and labor market. The 10- and 30-year bond yields fell by the most since the end of February (~8.5 bp) and are little changed today. European benchmark yields are 2-3 bp higher. The greenback finished mostly softer, even though the euro and Canadian dollar nursed small losses. It is mixed today against the majors, and the euro and Canadian dollar are among the firmer currencies, while the Antipodeans and sterling are softer. The Russian ruble is recouping yesterday's sanction-inspired drop. ... (full story)