An upshift in the priced-in 2019 monetary policy outlook implied in Fed Funds futures sent Treasury bond yields higher alongside the US Dollar, sapping the appeal of anti-fiat and non-interest-bearing assets. Gold prices dutifully fell.Interestingly, stocks rose with rates and the Greenback, implying an earnest improvement in market-wide risk appetite. Optimism emanated from European bourses. Italian banks reassured investors of their ample capital buffers and comments from the Bank of France struck a refreshingly optimistic tone.