There is a bit of a risk-off take as we get things going on the session, as equities fall alongside bond yields. 2-year Treasury yields are down over 8 bps to 4.063% while 10-year yields are down 6.5 bps to 3.450% at the moment. 10-year German bund yields are also seen down 5 bps to 2.44%, so this isn't just limited to Treasuries.
If anything else, do keep an eye out on the Japanese yen though. There is a notable divergence taking place in the price action between USD/JPY and 10-year Treasury yields as seen in the chart below. And if the former has to play catch up to the latter, there might be scope for a further fall in yen pairs in the session(s) ahead.
