Japanese Prime Minister Fumio Kishida has used his keynote speech at the Shangri La Security Dialogue in Singapore today to announce plans of a substantial increase in Japan's military budget.
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FRBNY EFFR for prior session:
XBT is approaching big support at 28,824.32.
Chart source: MNI/Bloomberg
Rates still weaker after higher than expected April inflation data, reversals pauses with some two-way last few minutes with fast$ buying 10s. Heavy front end selling (2YY taps 2.7276% high vs. 2.6124% late Tue) on prospect of renewed hawkishness from the Fed to combat inflation.