Bond selloff takes a breather for the time being

• 2-year Treasury yields -6.7 bps to 2.435%
• 5-year Treasury yields -5.4 bps to 2.649%
• 10-year Treasury yields -2.8 bps to 2.581%
• 30-year Treasury yields -1.1 bps to 2.621%

That might be what is offering some respite to stocks, which are hoping to snap quite a modest two-day decline. European equities holding higher with US futures also up around 0.3% at the moment.

I’m not going to attribute much to the drop in bond yields today as it comes on the back of a four-day climb in Treasuries.

In the FX space, the dollar is mostly calmer in a bit of a choppy session but mostly holding little changed. The aussie and kiwi are the notable laggards but have kept near the lows for the day since Asia trading already.