Looks like we’re in the midst of the fabled Santa Claus rally, where equities rise at the end of the year. We’re at fresh two year highs of 1253.80 on the S&P while US yields are backing up as traders (hopefully) move money out of the fixed income markets and into equities…
Full disclosure: I have two kids staring down the barrel at college, so a continued equity rally is of vast importance to me and mine…
10-year yields are up to 3.38% from 3.31% early in the day.
USD/JPY is well bid, up to 83.84 after bouncing from Kampo bids at 83.50 earlier in the session.
EUR/USD is at session lows of 1.3114. Support is down at the 1.3095/00 area where yesterday’s lows and the 200-day moving average converge.
