10-year Treasury yields up nearly 6 bps on the day now
10-year yields are up nearly 6 bps to 1.43% currently while 30-year yields are up a little over 6 bps and closing in on 2.30% in European morning trade.
This is putting added pressure on the yen across the board, with equities continuing to see a rotation out of tech - as evident by the move in US futures.
Nasdaq futures are down 0.5% on the day while Dow futures are holding 0.2% higher.
Going back to yields, what's more concerning is the fact that 10-year real yields in the US have now climbed back up to their highest levels since July last year.
With breakevens keeping stagnant around 2.17% to 2.18%, this isn't just solely a move based off inflation expectations. The move in real yields could lead to more significant spillovers in the broader market if it gathers more attention.
