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Bank of Singapore: US twin deficits could put pressure on USD and bond yields

Now that the US Senate has passed the tax reform bill, the focus will shift to trade policy, with the US’s budget and trade deficit with China in particular poised to push USD downwards and bond yields upwards, according to Bank of Singapore. Trump’s recent State of the Union address foreshadows a protectionist policy stance, insofar as the US President stated that…

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