The US 10-year yield is down 3 basis points to a session low a 2.65%. The dollar is following yields lower with USD/JPY at a session low of 102.08.
The market is beginning to think the Fed will be dovish. Rate hike expectations are getting pushed beyond mid-2016. The main way we could see it expressed is via more concerns about low inflation from the Fed.
US 10-year yields
