It took a few hours but the US 10-year note has lost most of its gains on the day is is back above the 3.00% late in the session. More evidence that the market is looking past today’s weak US employment report as an aberration.
EUR/USD is holding onto the bulk of its gains, supported by the notion that ECB bond purchases will buy European policy makers time to sort out the Portuguese and Spanish sovereign debt problems without resorting to another round of bailout packages.
The spread between peripheral debt and Germany will be key in the coming week.
USD/JPY has been struggling to retake he 83.00 level since being belted lower by the shock accompanying this mornings payrolls “miss”. 83.40 will be a further difficult if we retake 83.00.
