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The Dollar: Triffin’s Dilemma and the Impossible Trinity

24th March 2021 Summary Triffin’s dilemma reminds us that domestic & international goals may be inconsistentUS yield curve steepening is increasingly putting global markets under strain The Fed’s trilemma is whether to set bond yields, equity prices or the dollar Ultimately, the Fed has no choice but to let the dollar take the strainAs you know, we […]
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