The market catches its breath after a lively Tuesday
FX is keeping little changed for the most part with dollar pairs holding within 10 pips of one another. The ranges for the day also exemplifies the inaction today, with EUR/USD seeing just a 10 pips range and USD/JPY only 8 pips so far on the day.
A key fixture in trading this week will be the bond market and 10-year Treasury yields are holding near the double-top from the August highs around 1.36%. There was a nudge above 1.38% briefly yesterday but that fizzled into the close.
The 10-year note auction later today will be one to watch.
Besides that, US futures are keeping more tepid after a mixed showing in the cash market yesterday. Futures are now flattish and not showing much poise as we await further clues going into European trading later today.
