It's not a good look for risk as we look towards the start of European morning trade, with S&P 500 futures now down 0.9%:
That has also weighed on European futures as mentioned here and bond yields are also pulled a little lower to start the session. 10-year Treasury yields are down 1.7 bps to 3.076% currently.
There isn't much of a catalyst for the dribble lower in the past hour but just be wary that month-end and quarter-end flows will be part and parcel of the picture today. That won't make it easy to read into sudden moves in the market.
In FX, the dollar is holding slightly lower despite the softer risk mood with USD/JPY down 0.3% to 136.20 and EUR/USD up 0.2% on teh day to 1.0463 at the moment.
