There’s a little bit of a risk-off take as we get issues happening the session, as equities fall alongside bond yields. 2-year Treasury yields are down over 8 bps to 4.063% whereas 10-year yields are down 6.5 bps to three.450% in the mean time. 10-year German bund yields are additionally seen down 5 bps to 2.44%, so this is not simply restricted to Treasuries.

If the rest, do hold an eye fixed out on the Japanese yen although. There’s a notable divergence going down within the worth motion between USD/JPY and 10-year Treasury yields as seen within the chart under. And if the previous has to play catch as much as the latter, there may be scope for an additional fall in yen pairs within the session(s) forward.