With the start of the new week and month, US securities are signaling a cautious start. The bond market is already beginning to feel reality and has turned the yield down. 10-year bonds are now at flat levels, reaching a new bottom for today, and market players are becoming more cautious.
This pushed USD / JPY to a fresh bottom at 106.14, with European markets also turning south.
Stock markets remain defensive, with US futures also entering negative territory. Given the lack of optimism in the development of US-China relations, we expect that the risk of aversion will intensify during the US session.
Source: Used with permission of Bloomberg Finance L.P.
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