US 10-year yields break out
The Bank of Japan's surprise decision to cut long-dated bond buys today is rippling throughout global markets.
US 10-year yields are up 4 bps to 2.51%, breaking the December high and reaching the best levels since March.
It shouldn't be a big surprise to see bonds slumping as central banks ease off the gas pedal and stocks melting up to infinity.
In FX, this is a good sign for the US dollar but it's all relative. Yields elsewhere have been moving higher and the potential for a bigger shift at the Bank of Japan has put a bid in the yen today.
That said, double bottom on the USD/JPY intraday chart?
