Forex indicators show the Japanese yen is the strongest net bought currency across the board and the US Dollar has also been in favor amid heightened risk aversion. On the flip side, we are seeing strong net outflows from especially the Swedish krona and Australian dollar, while the Danish krone and Norwegian krone are also net sold. The Euro remains on the back-foot as has been the case in recent weeks as investors focus on today’s vote by Eurozone parliaments to approve the rescue package for Greece. This morning’s above-consensus reading on US April non farm payrolls has given a further boost to the greenback which is already benefiting from the general pullback in risk appetite. Meanwhile, our iFlow bond indicators confirm continuing net selling of UK gilts consistent with a 19 bps rise in 10-year gilt yields to as high as 3.98% early Friday as the election results pointed to a coalition government with no party being able to attain a working majority. There are reports this morning that the Conservative leader David Cameron has said he wants to make a “big” offer to the Liberal Democrat Party, which has helped Sterling and UK bonds pare their recent losses amid hopes that there may be a relatively quick resolution on the ultimate composition of the next government. Amongst emerging markets, our iFlow FX indicators show the recent sell-off in riskier assets has provided opportunities to get back into select higher yielding currencies at more attractive entry levels –we are seeing net inflows into the Polish zloty, Czech koruna, Philippine peso, Indonesian rupiah and Hungarian forint.