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US 10-year yields fall below 1.16%

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Fresh lows in rates

US 10s

US rates are at the lows of the day, edging through 1.16% as some risk aversion creeps into markets. The building permits data was on the soft side but I suspect this is more follow through from yesterday.

In FX, the euro tested yesterday’s low at 1.1765 but held it on the first test while cable has broken below 1.3600.

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