10-year yields up over 4 bps to 1.65% on the day
It sure looks like bond traders are struggling to make up their minds on the week, after having positioned for some reflation wordplay by the Fed, only to have been shot down by Powell with 10-year yields falling back to 1.60% yesterday.
But so far in European morning trade, yields are creeping back higher again and that is pinning USD/JPY close 109.00 once again currently. US futures are less perturbed by that but just keep an eye on things in case there are some spillovers to follow.
