After a risk-averse market most of the day we’re seeing a bit of risk return late in the day. US equities are well off earlier lows while bond yileds are edging up after falling about 3 bp earlier. The euro, AUD and GBP are all on the mend with EUR/USD eying afternoon highs around 1.2885. Small stops lie in the 1.2890 area on intraday shorts.