Treasury yields are looking heavy once more after yesterday's fall, with 2-year yields down over 5 bps to 4.086% while 10-year yields are down nearly 4 bps to 3.475% at the moment. Major currencies are little changed but we could see things switch around quickly, with the dollar perhaps needing to play catch up again.
There is now a notable divergence between USD/JPY and 10-year Treasury yields (as seen below). And eventually, something's gotta give.
Equities are also holding slightly more on the softer side, despite quite a modest recovery towards the end of Wall Street trading yesterday. S&P 500 futures are now down 14 points, or 0.35%, on the day.
There won't be much in terms of data to shake things up in Europe, so expect trading sentiment to continue revolving around the action in the bond market as well as the risk mood for now.
0600 GMT - Switzerland March trade balance data
1000 GMT - UK April CBI trends total orders
That's all for the session ahead. I wish you all the best of days to come and good luck with your trading! Stay safe out there.