US 10-year yields are at the highest since Aug 2011, at 2.65% compared to 2.56% before the report. PIMCO talking heads are on BBG TV saying it’s an overshoot.
Options are coming into play in the FX market. There is a $1 billion expiration in USD/JPY at 101.00 at today’s NY cut (1500 GMT). That could act like a magnet until expiry.