US share prices are well off earlier lows, now down about 0.5% but EUR/USD remains weighed down.
Perversely, the firmer US yields as a result of debt ceiling jitters may be providing the dollar a lift. We trade about 5.5 basis points firmer at the 10-year maturity. German bunds are 5 bp lower on the day, widening the spread to 0.24 bp in favor of the dollar.
