Stocks back in the green

The S&P 500 fell as low as 3789 but it has rebounded to 3839. That's a 1.4% bounce from the bottom.

The turn came in part after the ECB's Stournaras talked about speeding up the pace of QE to counteract the rise in yields. I think that was only a small part of the turn but it highlights the chance of the Fed stepping in if the drop in yields extends.

US yields haven't moved and remain near session highs with the US 10-year sitting right at 1.5%.