Earlier today an update here urged readers to keep a close eye on US yields, because they are driving other markets right now. Well, as reported after the release of the US PPI data those yields shunted higher again and that lifted the dollar and pushed stocks a little lower. Since that update was sent out, those US yields have backed down again and now the 10 year note is not 4.48%, it is 4.43% and that has sent the USD/JPY into reverse. It lifted earlier to 156.20, but as those yields fall back it has fallen back below 155.70. So, if that is not a classic example of why you need to keep a very close eye on yields, then I do not know what is. The same applies in a much looser sense to the US stock markets, but in truth the connection is nowhere near as strong as it is with the dollar. Those US stock markets will very shortly reopen and its looking like it will be a rather mixed opening this afternoon too. Bascially you need to think like a robot these days!