Let’s cut right to the chase. With the Fed set to hike rates next year, Treasury yields are staying supportive for the time being – more so on the short-end of the curve.
But the question is, how much of those rate hikes have already been factored into the equation?
Fed fund futures have already ful

UBS says it expects the Federal Reserve to withdraw monetary accommodation faster than some other major central banks in 2022 and this divergence in policy leads them to expect the US dollar to strengthen further.
On gold the analysts at UBS hold a negative view, citing:

a backdrop of rising ra