European stocks may be down, but investors are looking more cautious than panicking
European equities are slightly lower on the day, almost flat in fact right now as investors see no need to panic just yet.
If in doubt, always look towards the US. And equity futures are holding up well. The S&P 500 futures are up 0.7% on the day, trading near the highs at 2,613 now - and that's giving some comfort to equity traders in Europe.
And that relative calm is also translating to the FX market as well. The Japanese yen remains offered, alongside the Swiss franc as both currencies give up some of the gains from yesterday's trading.
Likewise, bonds are also quietly offloaded too as US 10-year yields climb back up to 2.86% and German 10-year bund yields are at 0.77% on the day.
Sentiment still feels like it's sitting on a knife's edge at this point, but I reckon it wouldn't take much to turn fear into greed if US equities start off on a positive note later in the day.
