The S&P is down 6 at 1979 with the DOW losing 63 to 17004. The Nasdaq is -11 to 4475.
US 10 year yields have fallen towards 2.60% from 2.66% and it’s a similar picture further out in 30’s which are down 2bps at 3.45%. Countering that, the short end are showing marginal gains with 2 years +1bp at 0.515% and 5’s at 1.738%, having been up to 1.768%.
US 10 year yields 07 07 2014
The bond market might be showing signs that the market might be thinking about the possibility of earlier than expected rate rises, while keeping a “low for long” bias view longer term.
At the moment the dollar still seems to not want to join that party just yet.
