USD/JPY falls to a fresh session low
Risk aversion is picking up again with Treasury yields and stock markets sinking. The US 30-year yield is down 11 basis points to 2.98% in a dramatic rejection of resistance at 3.25%.
As big as the moves are in FX and stocks, they understate the scope of the bond market rally. There are massive bids for safety in Germany and the US while Italy is getting trampled. There is real fear out there with an election to come.
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