European equities play catch-up in early trades
- German DAX futures +0.8%
- French CAC 40 futures +0.6%
- UK FTSE futures +0.7%
European stocks closed near the lows yesterday and were unable to participate in late gains in US equities so the move here largely reflects that for the time being.
But with the risk mood holding better to start the morning, equities should stay firmer ahead of Fed chair Powell's speech in Jackson Hole. Much like it has been this week, watch out for the bond market if anything else during the session ahead.
The higher yields for the time being is keeping the yen weaker so far on the session. 10-year yields are up by more than 3 bps to 1.645% and is keeping USD/JPY at 106.63.
