Is the banking turmoil over? Or perhaps it is slowly fading into the background. That seems to be the market view this morning as we get into European morning trade. Besides lawmakers and policymakers reaffirming that the financial system remains sound, there hasn't been much other bad news since yesterday.
And that is likely helping with the mood for now. 2-year German bond yields are seen up 6 bps to 2.38% at the moment (as seen below) while 2-year Treasury yields are marked up by 5 bps to 3.975% to start the session. Relative to the moves in the past week, these are rather marginal but we'll see if and how the market appetite grows in the hours ahead.
