The slow nudge higher continues for bond yields during the week
US 10-year yields are up by 2.3 bps to 1.943% on the day while European stocks are also squeezing out mild gains to start the session. In turn, that is seeing the franc a little lower for now but yen pairs remain unperturbed - as they have been for the most part this week.
It has been a steady grind higher for bond yields this week with US 10-year yields now ~12 bps higher from where they started off. I reckon it's more to do with some year-end positioning adjustment but be mindful of the 2% level up ahead.
