USD/JPY hits a low of 110.30 as 10-year Treasury yields fall by nearly 7 bps
Currencies are finally playing ball again and we're seeing USD/JPY fall by 30 pips in the last half-hour with the swissie also gaining strongly on the back of a continued tumble in global bond yields. Treasury yields are falling heavily across the curve now with 10-year yields nearly down by 7 bps while 2-year yields are down by 10 bps currently to 2.355% and 2.164% respectively.
Other risk assets are also experiencing a fall with oil also down by 0.7% to session lows currently. And it's not just US yields which is the ones dropping today, 10-year bund yields are also down now to -0.06% and falling deeper into negative territory.
European equities have also been dragged lower and are all trading in the red now and this should keep the yen underpinned ahead of US trading later.
