Though the headline was less robust than expected, bond yields are edging up slightly. 10-year notes up up a basis point or two to 3.89% while stock futures are very modestly higher, with the S&P up less than a point.
USD/JPY is getting the best bang for your buck, rising to 94.40 on EBS before settling back to 94.15.
EUR/USD is choppy, with the market trying to sort out whether to go with the reflation trade and buy EUR/USD or go with USD-supportive rate differentials and sell EUR/USD…We are orbiting 1.3550, just like before the data.
