For some context, that is a 74 bps climb down from the high just above 5% on Wednesday last week. Yes, you read that right. A whopping 74 bps! 2-year yields are down again by over 24 bps today and with things starting to turn ugly again in broader market sentiment, it looks like the squeeze here could go on for a bit more.
USD/JPY has also dropped by nearly 1% on the day now to 133.75 from around 134.50 just about an hour ago.
