10-year Treasury yields continue its breakout to 1.06%
The bond market continues to stick with the stimulus/reflation narrative following the Democratic sweep in the Georgia runoffs, as the breakout continues.
10-year yields are now up 2.5 bps to 1.06% - its highest levels since March last year.
That is keeping pressure on the yen to start the session, as USD/JPY now climbs to a session high of 103.35. The overnight highs were seen at 103.40-44 so look out for that next as price moves above its 200-hour moving average of 103.26 currently.
