US 10-year yields continue to fall
The market is acting like it was get it all -- a trade deal and rate cuts.
US 10-year yields are down 3.3 basis points to 1.94% in a fresh cycle low. That puts it 46 basis points below today's effective Fed funds rate of 2.40%. Part of that is falling global yields as gilts and Italian bond yields sink.
Meanwhile the stock market continues to tick to record highs with the S&P 500 up 18 points to 2991.
USD/JPY is going with stocks at the moment as the pair wipes out today's losses to change virtually unchanged at 107.83.
