The S&P 500 hit a record high today but the bond market paints a far different picture of the US economy.
10-year yields yields dropped 4 basis points after the soft retail sales report and have hardly mustered a bounce. Yields are now registering at 2.61% and most of the two-day rise has been wiped out.
US 10 year yields stuck on the lows
USD/JPY has been able to rally without any help from the interest rate market but if the support in the 2.57% zone gives way, the dominoes will begin to fall.
