The US is selling $16B in 30-year bonds at the top of the hour. The market is expecting a yield of 3.23% and benchmark 30s are at the highest since Oct. 31.
I wrote about buying USD/JPY on rising US yields on Tuesday. Since then, US 10s have risen to 2.06% from 1.98% and USD/JPY is up 80 pips.
An unexpectedly high yield here would help push dollar-yen even higher.
