Bonds are on the back foot again, just slightly after a hair-raising run this week.

Yesterday they were shooting higher buoyed by the latest signs of largesse from the heavy hitting central banks.

Benchmark bonds carved out a biggest rally since the Brexit vote

with yields falling by around 0.1 percentage points a lot for this market,

driven by latest commitment to bond buying by the Bank of Japan

and the FEDs reluctance to raise rates again just yet.

Today that rally is not reversed,

but it has run out of steam with yields of up a tad across most major markets.

The flip side of weaker prices, gold is also off the boil.

For all the market impact of central banks’ stimulus though,

there are increasing signs the medicine is not working.

The latest measures of the help of European businesses make for grim reading the grimmest,

in fact since the start of 2015.

Coming are pretensions increasingly focusing on the US presidential election

with the Mexican Peso for example taken a heavy blow partly on nerves

about the prospect of President Trump

All lies on the debates on Monday.