S&P 500 futures down 6 points
The US stock market is set to reopen after Monday's holiday. It's the first chance to digest the latest North Korean nuclear test.
The good news is that -- aside from some talk -- there has been no genuine escalation since early Saturday. That's reflected in the modest dip that's expected when the NYSE reopens.
The bond market is less sanguine with a strong bid arriving along with New York. Ten-year Treasury yields are down 5.4 bps to 2.11%. A big part of that is the commentary from Brainard and the growing expectation the Fed will be sidelined for awhile, but it also reflects a more-cautious view on North Korea.
