# Markets To Watch This Week: US Bonds and Japanese Yen

By Bilal Hafeez

(1 min read)

By Bilal Hafeez

(1 min read)

So many different markets are experiencing large moves that it’s hard to keep track. Therefore, we are launching this new report that tracks which markets have moved the most over the past week. In order to allow comparisons across markets, we look at moves in terms of standard deviations. Put simply, we see whether last week’s move in a given market was a 1 standard deviation move, a 2 standard deviation move or something smaller.

- Looking at last week, we find that six markets experienced a move greater than one standard deviation.
- The biggest was US 10y bond yields which saw a 2.1 standard deviation move, followed closely by UK 10y yields (Chart 1). Meanwhile, the Japanese yen (JPY) fell 1.6 standard deviations.
- Other markets that experienced more than one standard deviation (st. dev.). weekly moves were German 10 yields (+1.4 st. dev), Japan 10y yields (+1.2 st. dev.), Bitcoin (+1.2 st. dev) and the Nikkei (-1 st.dev.)

We will therefore closely follow these markets this week, notably US 10 yields and USD/JPY (Charts 2 and 3).