European indices fall to session lows, trading in negative territory
The DAX is now down by ~0.8% after having opened higher by about ~0.3% to start the session, with US futures also retreating as S&P 500 futures pare gains on the day:
Despite the move in the equities space, the dollar is actually keeping weaker across the board to start the session. Meanwhile, Treasury yields are still keeping with a potential breakout from yesterday as we see 10-year yields up by 1.3 bps to 0.765% now.
It is tough to read into the market moves so far today, as the dollar weakness is breaking away from the correlation with equities strength and higher yields. Abe's resignation as Japanese prime minister only complicates the picture even more, especially for the yen.
I would argue that Treasuries remain a key spot to watch in all of this but we may only perhaps get a better sense of what is to come in North American trading later.
