After a dramatic run since the US election, the capital markets are consolidating today. It is a bit too restrained to such a Turn Around Tuesday is unfolding. The euro is struggling to sustain corrective upticks through $1.08, and after a pullback is, the greenback pushed back above the JPY108 level like a beach ball held under water. In fairness, the selling pressure on US Treasuries, a key driver in the recent moves, seemed to dissipate yesterday, though the bears made a stand in late-afternoon turnover. The 10-year yield is off six basis points to 2.20%. It reached 2.30% at its peak yesterday. Another market that ... (full story)