US 10-year yields breaking to highest levels since March 2017 while 2-year yields break out to highest levels since 2008
US Treasuries are lower on the day again, sending yields soaring as we get the European session going. 10-year yields are up to just under 2.60% now, breaking the 10 January high. Yesterday's surge in yields saw it jump 3 bps, and the momentum is continuing into today as well.
And that is helping to keep the dollar a little steady as we head into European trading. The rise so far is keeping USD/JPY underpinned as it is now back up to 111.27 after falling to 111.12 earlier in the day.
