US 10-year yields down 5.5 bps
The optimism in stock markets in the past month hasn't spilled over to the Treasury market. That isn't really a surprise given that the dovish shift from the Fed is the driver for most of the stock market gains.
Watch that downtrend resistance that as underscored again today by the drop in yields after retail sales. That could prompt another test of 2.61%, which was the low this month and a potential drop back down to the January low.
Souring trade talks and more poor economic data would doom this chart to a break lower and pull down USD/JPY with it.
