On tues the 10 yr closed at 5.12%, the 30 yr was around 5.4% and the S&P still finished up 0.28% and normally when yields are this high and something's making the market nervous (this month it's the aidebt story with coreweave's bonds reportedly yielding something like 15%, per reports on its 9.625% notes due 2032 around oct 13 to 14) I would expect the dollar to catch a bid but instead the dollar index fell about 0.27% to around 101.7 and one fx desk's note this week said it had weakened against every G10 currency. A few things happened at once ,japan's 20 year bond auction drew record demand and the yen jumped, with USD/JPY down to about 158. Brent stayed near $110, gold held around $4,150 and the fed meets next week with a hike still on the table but less likely after weak housing data so it isn't a clean risk off trade and I not sure what it is I notice it in a small way because I send money to family every month and onn oct 8 a dollar bought ₹96.88 and on 19th it bought ₹94.92, so about 2% less and I checked everywhere wise,aspora,remitly all moved the same and to be fair, most of that is the rbi curbing dollar demand and so it's a bad example but it made me look at the bigger picture. My guess is that some investors arent treating treasuries as the safe haven they used to and money is drifting to japan's long end and gold(I could be completely wrong) Anyone else seeing this? -Fisherman9594
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