Risk keeps more on the defensive side for now
- Eurostoxx -0.3%
- Germany DAX -0.5%
- France CAC 40 -0.6%
- UK FTSE -0.5%
- Spain IBEX -0.8%
US futures are also mixed and leaning slightly more cautiously, with S&P 500 futures down 0.2% and Dow futures down 0.4%. Nasdaq futures are flat though, so that offers some mild comfort as we get things going on the session.
But the bond market is back at it again, with 10-year Treasury yields down nearly 5 bps on the day to 1.238% at the moment.
As such, the overall mood leans towards the defensive side with major currencies reflecting that sentiment. USD/JPY is down near the lows at 110.20 with the 100 and 200-hour moving averages providing some support closer to 110.04-14.
