A softer start to the session

  • Eurostoxx -0.6%
  • Germany DAX -0.6%
  • France CAC 40 -0.7%
  • UK FTSE -0.7%
  • Spain IBEX -0.9%
  • Italy FTSE MIB -0.6%

Risk stays on the retreat as the market sticks with a more defensive tone for the time being. US futures are also keeping lower, with S&P 500 futures down 0.3%, Nasdaq futures down 0.2%, and Dow futures marked down 0.4% on the day.

The bond market continues to be a key barometer for sentiment and things are still tilted towards being more risk averse for now. 10-year Treasury yields are down 4 bps to 1.257% as we get things going in Europe.