Closing changes for the main North American indexes
Yields finished near the lows of the day and about 20 minutes before the close that looked like it was going to spill into equities as they quickly jumped but right at the end of the day there was some hard selling

Weekly forex futures positioning data for the CFTC for the week ending Tuesday, February 23, 2021:
The break higher in sterling finally resonated with speculators as they waded in. It will be interesting to see if it inches above last year’s high in the week-ahead report or if specs were rattled by the volatility this week.

That’s a good sign
US 10-year yields are down 8 bps to 1.43% and 30s are down 11 bps to 2.17%. Both are at or just above the lows of the day.
The question is whether that’s month-end rebalancing flows or if it’s a sign that the bond rout is exhausted.

The dollar had a big week
King Dollar reigned this week but it was essentially a one-day move with today’s dollar rally accounting for nearly all of the weekly gain.

US futures turn lower, dollar stays more bid as commodity currencies sink
The jitters are still evident in the market as we await Wall Street to enter the fray.

Comments by BOE chief economist, Andy Haldane
Then again, that owes much to the fact that the UK is progressing well on the vaccine rollout. So, that needs to be taken into consideration as well.

The BOJ last bought ETFs on 28 January and held off buying more until today
That said, they still hold a commitment to buy roughly ¥6 trillion worth of ETFs at an annual average pace so that is something to consider unless communicated otherwise. I mean, what better timing to buy more when the market is down.

EUR/USD sellers look to try and seize near-term control
Despite calmer tones in the market so far in European morning trade, the dollar is still keeping bid as there is still an air of uncertainty ahead of US trading later.

Comments by Japan prime minister, Yoshihide Suga
This confirms earlier reports and will apply to the prefectures of Osaka, Kyoto, Hyogo, Aichi, Gifu, and Fukuoka. Meanwhile, Suga says that they plan to end all state of emergency measures by 7 March – this will apply to Tokyo.

At what point does higher Treasury yields start to weigh on risk sentiment in a more profound manner?
We’re starting to border into risk aversion territory ahead of US trading today, with US futures slumping to fresh lows on the day as yields continue to ramp higher.