• 2-year Treasury yields +4.2 bps to 4.241%
  • 10-year Treasury yields +4.4 bps to 3.561%
  • 30-year Treasury yields +2.6 bps to 3.676%

This is helping to underpin USD/JPY slightly at the moment, with the pair now up 0.2% to 132.15 from around 131.70 levels earlier in the session. There is still a state of flux among major currencies as broader markets remain more cautious and tentative but bonds are slipping a little on the session, with stocks also holding slightly lower.

All eyes are on the upcoming remarks by Fed chair Powell but as mentioned here, we might not even get anything significant from Powell later on. As such, just be wary of that possibility and that could very well cause a turn in market sentiment when Wall Street steps into the fray.