• AUD leads, NZD lags on the day
  • European equities higher; S&P 500 futures up 0.5%
  • US 10-year yields down 1.7 bps to 3.671%
  • Gold down 0.2% to $1,813.87
  • WTI crude up 2.0% to $77.78
  • Bitcoin down 0.3% to $16,846

It looks like markets are finally catching that year-end spirit as we slowly start to see things wind down after the BOJ surprise policy tweak yesterday.

10-year JGB yields did race higher to test the Japanese central bank's new red line at 0.50% but the rout in bonds were not as persistent and widespread elsewhere. 10-year Treasury yields did move higher earlier in the day to 3.72% but have fallen back now to the lows for the day, down nearly 2 bps to 3.67%.

That did little to pique the interest among major currencies though, with little change observed for the most part. Only the pound and kiwi are notable movers, both being pinned lower on the day. The pound itself was offered in European trading, with little to no headlines to really work with.

GBP/USD fell from 1.2180 to 1.2085 before keeping closer to around 1.2100 currently, holding just above its 200-day moving average at 1.2083.

Besides that, equities are holding higher and finding some relief ahead of the Wall Street open. The technical picture though is still ominous and that is something to be wary about ahead of the Christmas holidays.