10-year Treasury yields fall by over 6 bps currently
That is seeing the yen strengthen a little with USD/JPY now at 107.80 from 107.93 earlier while GBP/JPY falls below the 134.00 handle as we navigate through the session.
The defensive flows continue to stem from heightened geopolitical tensions in the Middle East and I would expect the situation to keep risk sentiment more cautious (and underpin oil prices too) in the short-term.
With the move lower in yields today, just keep an eye on yen pairs and gold moving forward as it could cause a more pronounced reaction in the session ahead.
