Markets are in a more defensive mood as global risk appetite remains weak
- Eurostoxx -0.4%
- Germany DAX -0.4%
- S&P 500 futures -0.2%
- US 10-year yields down 2.4 bps to 1.62%
Commodities are also pointing to a bit of a sour mood in risk with oil down by 0.5% and gold up by 0.8% currently. For some context, E-minis were up by about 0.2% earlier before the quick drop over the past half-hour.
Currencies remain more calm for the most part with USD/JPY holding at 105.30 but I reckon if we see bonds start to push the issue a little more, we'll see some risk-off reaction in return.
