Global treasury yields follow the strong rally in US today. Japan 10 year JGB yield rises 0.0214 to 0.162. Let’s remember that BoJ “allows” it to fluctuate between -0.1% and 0.1%. It’s now way above the top of the band.

German 10 year bund yield is currently up 0.065 at 0.542, back above 0.5 handle. There was a blip earlier this week on Italian budget concerns. But it seems that the new budget deficit targets are relatively well received. There is prospect of heading towards 0.6% handle even though it’s still bit far.

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Australia 10 year yield also rises 0.067 to 2.718. But judging from the chart, momentum is relatively weaker than the others. That could explain the sluggishness of Aussie.

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