• EUR leads, CHF lags on the day
  • European equities lower; S&P 500 futures down 0.9%
  • US 10-year yields up 7.4 bps to 2.627%
  • Gold down 0.1% to $1,921.20
  • WTI up 1.6% to $103.60
  • Bitcoin down 2.1% to $44,910

It was a quiet session for the most part but there were some decent moves in the market as we continue to see the bond selloff deepen. Meanwhile, equities tracked lower as stocks remain on the defensive after more hawkish Fed talk from Brainard yesterday.

European indices are down by nearly 2% across the board with US futures also sinking further by roughly 1%.

The moves didn't quite translate into any meaningful action in FX though. Major currencies remain in a rather push and pull mood with the dollar seeing a slight advance early on only to give that all back to be little changed now.

EUR/USD fell from 1.0890 to 1.0875 before clawing its way back up to 1.0910 levels currently. GBP/USD also slid to 1.3045 only to climb to 1.3100 and then fall back to 1.3070 at the moment.

The yen remains an interest point amid the bond market rout but USD/JPY is seen hugging 123.70-90 levels for the most part during the session.

The FOMC meeting minutes later in the day will be a key risk event to watch out for as what is happening in the bond market continues to be where all the action is at - highlighting the battle between central banks and inflation.