The only Risk spread that has backed off this week has been Dow/Bonds.
I view this as just spreading vs the Nasd.

The U.S. (Pit Session) is not confirmed by Globex.

Spoo/Bond is currently slightly lower on the week.

JPM just beat and is trading above its January break down #.

Yen challenged its 200 DMA last night and the crosses reacted accordingly.