The charts that matter: bond yields and US dollar continue to climb

The US dollar and government bond yields around the world continued to climb. Here’s what happened to the charts that matter most to the global economy.

Welcome back.

This week, we take a look at the opportunities for investors in Asia’s best stockmarkets. Chinese stocks may be out of favour at the moment – indeed JPMorgan classified the country’s whole internet sector as “uninvestable” since the government clamped down – but there is still value to be found elsewhere, says Rupert Foster. Specifically in India, Indonesia and our favourite Asian market, Vietnam.

Elsewhere, David Stevenson picks a new fund to profit from pampered pets. And in personal finance, Ruth Jackson Kirby asks if you should bother with highly expensive pet insurance or opt for the “self insurance” road.

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We’ve got a bumper podcast for you this week with a guest many of you will be keen to hear from – James Anderson, the outgoing manager of the Scottish Mortgage investment trust. He tells us about his career, and gives his views on the state of the fund management industry in general, and picks one stock to buy and hold for the next 20 years. Listen to the podcast here.

Here are the links for this week’s editions of Money Morning and other web articles you may have missed:

Now for the charts of the week.

The charts that matter

Gold fell back as the US dollar climbed – the price of gold tends to slip as the dollar strengthens.

(Gold: three months)

(Image credit: (Gold: three months))

The US dollar index (DXY – a measure of the strength of the dollar against a basket of the currencies of its major trading partners) continued its rise.

(DXY: three months)

The Chinese yuan (or renminbi) fell against the dollar (when the red line is rising, the dollar is strengthening while the yuan is weakening).

(Chinese yuan to the US dollar: since 25 Jun 2019)

The yield on the ten-year US government bond continued to rise.

(Ten-year US Treasury yield: three months)

The yield on the Japanese ten-year bond climbed higher, too.

(Ten-year Japanese government bond yield: three months)

The yield on the ten-year German Bund continued its drive higher.

(Ten-year Bund yield: three months)

Copper slipped, but maintained its erratic rise.

(Copper: nine months)

The closely-related Aussie dollar fell.

(Aussie dollar vs US dollar exchange rate: three months)

Bitcoin had a quiet week.

(Bitcoin: three months)

US weekly initial jobless claims fell by 2,000 to 184,000. The four-week moving average rose by 4,500 to 177,250.

(US initial jobless claims, four-week moving average: since Jan 2020)

The oil price slipped, than regained some ground.

(Brent crude oil: three months)

Amazon fell hard.

(Amazon: three months)

And Tesla had a volatile week.

(Tesla, three months)

Have a great weekend.

Ben Judge

Ben studied modern languages at London University's Queen Mary College. After dabbling unhappily in local government finance for a while, he went to work for The Scotsman newspaper in Edinburgh. The launch of the paper's website,, in the early years of the dotcom craze, saw Ben move online to manage the Business and Motors channels before becoming deputy editor with responsibility for all aspects of online production for The Scotsman, Scotland on Sunday and the Edinburgh Evening News websites, along with the papers' Edinburgh Festivals website.

Ben joined MoneyWeek as website editor in 2008, just as the Great Financial Crisis was brewing. He has written extensively for the website and magazine, with a particular emphasis on alternative finance and fintech, including blockchain and bitcoin. As an early adopter of bitcoin, Ben bought when the price was under $200, but went on to spend it all on foolish fripperies.