There’s a headline floating that Kremlin is threatening a nuclear response amid Ukraine’s use of Western missiles against Russia. And that is perhaps one reason for the more negative risk push in the last ten minutes or so. However, it is perhaps a timely trigger to shove bond yields lower after having ran into some exhaustion already since yesterday.
10-year Treasury yields are now down over 4 bps to 4.37% while 10-year German bund yields are down over 6 bps to 2.30% on the day.
In turn, this is putting a renewed drag on USD/JPY with the pair falling to fresh lows on the day. The drop sees the pair fall from around 154.50 earlier to 153.55 currently.
Elsewhere, S&P 500 futures are now down 0.1% after being marginally higher by 0.1% earlier.