Equities may be falling alongside bond yields for a second day running but the major currencies bloc is not signaling any signs of risk aversion or panic so far today. USD/JPY looked like it may be correcting lower earlier in a drop to 136.10 but it has since bounced back to 136.70 on the day:
Elsewhere, other major currencies are little changed against the dollar in more mixed trading. To put things into perspective, EUR/USD is up by just 0.1% to 1.0595 and stuck within a 32 pips range on the day.
This comes despite stocks staying under pressure, with European indices set for their biggest fall in a month. Meanwhile, S&P 500 futures are down 20 points, or 0.5%, and Dow futures holding lower by 0.6% on the day. Looking at pre-market trading, SVB shares are down nearly 24% at the moment.
In the bond market, Treasury yields are still marked lower with 2-year yields down 8.6 bps to 4.813% and 10-year yields down 9.3 bps to 3.829% currently.
