Here's a look at Treasury yields on the day:

  • 2-year yields +1.7 bps to 2.477%
  • 5-year yields +2.7 bps to 2.823%
  • 10-year yields +3.5 bps to 2.897%
  • 30-year yields +3.5 bps to 2.987%

The levels are the highs for the day as the bond selling looks to resume. In turn, that is pinning USD/JPY higher with the pair now up 145 pips to 128.42. In general, the yen is dragged down across the board with AUD/JPY also trading up to its highest since July 2015, closing in on the 95.00 level.

Again, I'd like to point out this chart when it comes to the bond market:


10-year Treasury yields are looking to break key resistance in the form of the 200-month moving average (blue line) as well as the channel range that has been persisting for more than two decades now.