I don't want to be one to call it but for now, at least equities are seeing some breathing room as the week winds down.

There's still the US session to navigate through though and if there's anything the wild swings have taught us this week is that to never discount a turnaround in sentiment before the closing bell.

But for now at least, there are some optimistic signals. European indices are holding gains around 1.2% to 1.6% while US futures are also settling higher ahead of North American trading at least.

S&P 500 futures are up 1.1%, Nasdaq futures up 1.7%, and Dow futures up 0.8% on the day.

Elsewhere, bond yields are also moving up with 2-year Treasury yields up 6.6 bps to 2.588% and 10-year Treasury yields up 8.5 bps to 2.902%. In FX, things are less interesting with the recent dollar rally taking a breather with the greenback holding more mixed without any real technical significance so far today.