Pelosi's plane is in Taiwan airspace but hasn't yet landed. In any case, the market is having some second throughts about some of the safe haven trades in bonds on the outbreak of WW3. In addition, the hawkish push from Daly led to some further selling in bonds.
With that, the dollar slump is reversing as well. USD/JPY is up to 131.56 and virtually flat on the day. The euro is now down 75 pips to 1.0186.
US 2-year yields didn't break through the 2.80% level earlier today and are now 17 bps above the lows.
