Yen pairs are still calm though
E-minis have been tracking lower in the past hour and at the lows today are down by 0.36%. It's a signal that the jitters in the market aren't entirely gone just yet despite the recovery from Wall Street as US stocks moved off their lows yesterday.
There hasn't been much reaction across other asset classes though with Treasuries still unphased for the most part. 10-year yields are only down 1.1 bps on the day to 3.156%. Meanwhile, the Japanese yen is still on the back foot in the major currencies space as USD/JPY holds steady at 112.54.
The real question now will be is US equities leading sentiment or is it the follower in markets today? Initial signs seem to suggest the latter but if E-minis start to tail off further from here, it'll turn to the former soon enough I reckon.
