Global bond yields come under pressure

Bond Market Trends - Global bond yields are lower today potentially due to trading activity rather than a fundamental shift, with some anticipating a less dovish Fed meeting next week [2] - The long end of the yield curve is leading the decline, which is unusual given global debt concerns [2] - Two-year Treasury yields are down approximately three basis points, 10-year yields are down about six basis points, and 30-year yields are down roughly 7.5 basis points [3] - The decline in US Treasury yields is counterintuitive given stronger US economic data, suggesting short covering may be a driving factor [3] - The 10-year Treasury yield has closed lower for potentially four consecutive sessions, facing technical resistance around 450 basis points (4.5%) based on June data [4] Currency Market Dynamics - Despite the ruling party's election loss in Japan, the dollar-yen exchange rate is decreasing, driven by expectations that key government officials will continue to work on the US trade deal [5] - The dollar-yen exchange rate faces technical resistance around ¥150 [6]