Yields on US bonds fell during the session, with the 10-year yield back to its lowest in a week after the surges earlier this week.

After the big drop in the US on Thursday equities continued lower here today. Regional stocks fell. US equity index futures dropped, extending those Thursday US declines.

Also falling was the price of oil, both WTI and Brent dropped more than 2%.

In the FX space USD/JPY slid as haven flows supported the yen (and CHF). AUD, NZD, CAD, NZD all fell against the dollar. EUR/USD fell also, initially, but has subsequently staged a comeback, outperforming to be up 30 or so points from its early-session lows.

There was little in the way of fresh news. We did get Japanese CPI data (for December) which fell once energy was excluded (see bullets above).

Crypto declined, leaders BTC and ETH dropping over the course of the session. As I post BTC/USD is barely off its lows. The move today takes BTC/USD to more than 40% below its all-time high.

btc 21 January 2022 wrap