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Lagarde Says Most Longer-Term Inflation Expectations Are Around 2%

Lagarde says long-term inflation expectations are around 2%

Bitcoin falls as crypto trading volumes jump

Bitcoin and other major cryptocurrencies fell in risk-off trade as volumes rose and long positions were liquidated, according to Coinglass. Bitcoin dropped 2.7% to $81,151, while ethereum fell 4.9% and XRP slid 5%.

Forex, bond markets move on higher yields, dollar strength

The dollar index is firmer and Treasury yields are near multiyear highs, pressuring grain futures and other commodities. The roundup also includes analyst views on euro weakness, euro adoption prospects and fixed-income valuations.

U.S. Treasury yields hover near multiyear highs

U.S. Treasury yields are hovering near multiyear highs as investors watch Federal Reserve commentary and a 30-year bond auction. The 10-year yield traded as high as 5.353%, while the 30-year yield was around 5.696%.

Bitcoin falls 1.2% as portfolio debate grows

Bitcoin fell 1.2% to $82,422 as a market note said the asset is increasingly competing with other asset classes for long-term portfolio allocation. The note said the decline should be viewed in the context of bitcoin’s broader mainstreaming, while still remaining sensitive to macro conditions and investor sentiment.