2-year yields are down by over 8 bps on the day
The bond surge doesn't look like it will stop as yields are taking yet another tumble on the day and that's helping to lift the likes of gold and swissie higher on the session, amid further risk aversion and haven flows.
The surprise here is that the yen isn't gathering more strength but there is talk of option-related bids around 108.00 in USD/JPY that is potentially helping to keep the pair afloat for the time being. But with equities in danger of a further collapse and yields continuing to make new lows, it's hard to see how long that can keep up.
