Double-digits inflation in the UK is posing fresh questions to the market, as to whether higher and more sticky inflation had been too quickly ruled out in recent weeks. Bond yields are popping following the report here, with equities also taking a bit of a knock as market players start to have some doubts.
10-year yields in the US are also up nearly 4 bps now to 3.608% and that is underpinning USD/JPY to fresh highs on the day near 134.70.
