The USD is the strongest and the AUD is the weakest as NA traders enter for the day

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Evergrande, higher rates, lower US pre-market stocksAs the North American session begins, the USD is the strongest and the AUD is the weakest.  China's Evergrande entered into a technical default after failing to pay all bondholders.  The window is 30 days before it officially is declared an "official" default, but the cash-strapped company is not expected to rise from the ashes. US yields are up modestly after the sharp rise yesterday. The 10 year is trading near 1.42% after trading as high as 1.452%. That level represents the midpoint of the range since the March 30 high (the high yield this year did reach up to 1.77% – there is room to head higher).  US stocks are lower in premarket trading. European equities are also lower. There is lots of the Fed speak today with Mester, George, Powell, Bostic, Bowman all on the schedule. The USD and the CHF are attracting the flow of funds. The commodity/risk off currencies led by the AUD and N
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