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US: UBS suggest that "the spike in U.S. yields and the USD can extend in the
near-term, but only as long as risk tolerates this (the recent speed of yields
increase might become problematic here). Alternatively, US yields could rise
further, if global growth firms up and ex-U.S. yields rise independently - but
in that case the dollar rally would come to an end. Long term, U.S. yields are
likely to peak in the 12 months ahead and the higher we go from here the closer
we get to that peak - at least levels-wise."