Treasury yields retreat slightly to start the session

10-year Treasury yields fall by nearly 2 bps to 1.461%

USGG10YR

Risk sentiment is keeping on the defensive going into European trading but there’s an air of calm in the bond market and the market focus may shift towards that, or at least the capitulation in equities may hit the pause button for now.

The bond market is eyeing Fed chair Powell’s speech later today and with the possibility of a pushback, the rise in yields this week is at least stalling for the time being.
Over to equities, we are also seeing US futures pare losses further with both S&P 500 futures and Nasdaq futures being down by just 0.2% currently.