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Risk Fades as Israeli DefMin Says "No Choice" But to Retaliate

CROSS ASSET
  • Risk appetite knocked on Axios report citing sources in stating that "Israeli Minister of Defense Yoav Gallant told Defense Secretary Lloyd Austin Sunday that Israel has no choice but to respond to the unprecedented missile and drone attack launched by Iran over the weekend, a U.S. official and another source briefed on the call told Axios".
  • USD/JPY reverses off session highs on the back of that piece, with around 3,000 contracts trading on the move (shy of the US retail sales react move). Currency moves in tandem with the US 10y yield, which fades to 4.622%.

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