US 10-year yields are flat on the session at 1.81% after reaching as high as 1.86% in early European trading. It’s the second failed attempt at 1.86% in the past three days and shows the rise from 1.40% may be temporarily exhausted.
USD/JPY tends to track US Treasury yields as Japanese investors search for yield. The pair has slipped to a session low at 79.38, chomping through the last of the bids on the orderboard. Stops below 79.20.
‘Risk off’ sentiment is building with the S&P 500 down 4 points to 1414.