The massive bid in Treasuries/bunds is giving life to the yen.
US 10-year yields are down 4 bps to 2.44% in the past hour
A few theories floating around for the bid:
- Risk aversion talk of Russian sanctions
- Chatter that Draghi will open the door to ECB sovereign QE tomorrow
- Eurozone worries after the soft German PMI
A second case of ebola in the USOfficials have now backed away from this claim- Technical buying
- Rebalancing into Treasuries to start the quarter
- PIMCO-related flows
US 10 year yields