Just to add to Adam’s post a moment ago, this is where things could get more dangerous. A quick blow out is one thing but if it develops into something more it can be the sign of a bigger move to come.
US 10’s are back below 2.0% and USD/JPY is sliding. This time cable and euro dollar are not really joining in so it seems to be a lot of yen action more than overall dollar action.
Europe’s off the clock more or less now so liquidity might play a role as the US heads to the close. 105.50 may hold up a bit more this time on a test but otherwise watch for the stronger 105.30/35 area down to 105.20. Keep one of your 8 eyes on those yields too.
Have a good evening all.
