The barometer for how the market feels about the US reflation narrative is flashing red all of the sudden (or “green” depending on what side of the trade you happen to be on).
Via Bloomberg
- USD/JPY Fresh Low Under 110.30; Eyes 110.00 Area of Bids, Stops
- USD/JPY trading near fresh session low under 110.30, extending losses from the interim low at 110.46 seen at the start of the U.S. session; USD losses tracking a decline in the UST 10Y yield.
