US 10y yields
The bond market is the tail that’s wagging the FX dog at the moment.
The latest leg higher in the US dollar comes after a rebound in yields after an earlier dip. US 10s are now fractionally higher on the day at 4.26% from a low of 4.21% and it’s similar across the curve.
The stock market isn’t doing much of anything at the moment and there hasn’t been anything notable on the fundamental side in the US. I fear this dollar rally hints at a weak close for equities.