Spanish debt continues to slump with yields now up 15 basis points to 6.81%, near the highs of the day. Italian 10s are slightly of the highs but up 7 bps to 6.13%.
The market to watch is US 10-year yields as they continue to flirt with the record low of 1.4387%, set on June 1. US stocks are close to unchanged but if they begin to weaken, yields could crack and send USD/JPY lower.
